The European Parliament wants 40% of the second 'Juncker plan' to be used to achieve climate goals

The European Parliament wants 40% of the second 'Juncker plan' to be used to achieve climate goals


The European Parliament has set this Wednesday its position to negotiate with the 28 the new 'Juncker plan' to mobilize about 700,000 million euros between 2021 and 2027; among whose red lines it has included that 40% of the resources are destined to projects aimed at fulfilling the objectives of the Paris International Agreement on Climate Change.

The initial proposal presented by the European Commission provided guarantees from the European budget of 38,000, with the aim of mobilizing up to 650,000 million euros.

The position of the Eurocámara, adopted this Wednesday in the plenary session that has been held in Strasbourg (France), calls for raising these guarantees to 40,800 million euros, which according to MEPs would allow to collect up to 698,000 million in investments.

The objective is for the 'Juncker II plan' ('InvestEU') to function as a platform for investments that would otherwise be difficult to finance and follows the wake of the European Fund for strategic investments launched after the financial crisis.

MEPs have also identified other priorities for this project, in the face of the negotiation they will undertake with the Council, such as increasing the employment rate in the EU and improving economic, territorial and social cohesion.

They also want greater transparency to be guaranteed, so they ask the Commission and the Board of Directors to report annually to the Council and Parliament on the progress, impact and operations of the program.

On the other hand, the plenary has also adopted its position to negotiate with the Council an increase of 19% in the endowment of the European Social Fund Plus (ESF +) with respect to the initial proposal of Brussels, which would rise from 89,600 to 106,800 million euros for the period 2021-2027.

The funds will be managed jointly between the EU and the Member States and, in the opinion of the MEPs, to strengthen the resources dedicated to youth employment and ensure equal opportunities for children at risk of poverty or social exclusion.

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