ECONOMY

Gas projects to tap EU’s green transition fund

gas-projects-to-tap-eu-s-green-transition-fund

The European Parliament said on Wednesday it has voted to allow some gas projects to tap the European Union’s flagship green transition fund, teeing up tough talks with the bloc’s executive and national governments, which have already agreed to exclude the fuel.

The EU wants to launch a multi-billion-euro Just Transition Fund with cash from the bloc’s coronavirus recovery fund and budget to help fossil fuel-dependent regions to shift to cleaner energy.

Greece’s Manolis Kefalogiannis, lead lawmaker on the issue, said the rules enabled a “limited possibility of investments in natural gas as a ‘bridging fuel.’”

[Reuters]