Newsletter: A Boost for the Green Economy in Romania 11/09/2024
European carbon allowance (EUA) prices fluctuated in line with natural gas prices on Monday, ending the session almost unchanged at €65.27, as afternoon selling interest capped earlier gains. UK carbon allowance (UKA) prices ended at £42.44 on the ICE market.
Romania is set to benefit from a substantial €31.5 billion allocation under the EU Cohesion Policy for 2021-2027. Of this total, €13.5 billion is dedicated to the “A Boost for the Green Economy” fund. More information about this directive can be found here :
https://ec.europa.eu/commission/presscorner/detail/ro/ip_22_4662
The “A Boost for the Green Economy” fund is specifically designated to advance Romania’s green transition. This fund is aimed at fostering sustainable development through investments in green energy, carbon emission reductions, environmental infrastructure, and biodiversity conservation.
Among the €13.5 billion allocated funds, €6.75 billion is dedicated specifically to advancing the green transition. This investment focuses on enhancing green energy, reducing carbon emissions, and improving environmental infrastructure. Key areas of funding include :
- green energy initiatives
- carbon reduction projects
- biodiversity conservation
- green spaces
- risk management
- sustainable urban mobility
Strategic Investments for Romania’s Green Future
€2.3 billion will be used to upgrade the energy performance of residential and public buildings, and to invest in renewable energy sources and smart energy systems. This will significantly reduce energy consumption and carbon emissions, supporting the decarbonization of Romania’s energy sector.
Additionally, €2.34 billion will be directed towards the water and wastewater sector, enhancing the circular economy with a focus on waste management, re-use, and recycling.
Furthermore, €2.14 billion from the Just Transition Fund (JTF). This fund will target regions in Romania most affected by the phase-out of coal and lignite, concentrating on transforming energy-intensive industries and ensuring a fair transition for the affected communities.
This substantial funding represents a transformative opportunity for Romania, enabling significant strides towards a more sustainable and resilient economy. The investments will not only advance green energy and environmental projects but also ensure a balanced transition for communities affected by the shift away from traditional energy sources.
Carbon Expert is here to assist private businesses in navigating and accessing these vital funds. Our expertise in carbon trading and green consultancy can help you identify and secure the necessary financial resources for your green projects, ensuring you capitalize on the opportunities provided by this substantial investment.
Sources : European Comission, Carbon Credits