Since the beginning of the COVID19 pandemic in early 2020, European Institutions has committed at least USD 12.50 billion to supporting different energy types through new or amended policies, according to official government sources and other publicly available information. These public money commitments include:
- No public money commitments identified for unconditional fossil fuels
- No public money commitments identified for conditional fossil fuels
- No public money commitments identified for unconditional clean energy
- At least USD 385.46 million for conditional clean energy through 1 policy (1 quantified)
- At least USD 12.11 billion for other energy through 2 policies (2 quantified)
Supporting fossil fuel energy
Supporting clean energy
By energy type, no public money commitments identified for oil and gas.
In addition, no public money commitments identified for coal.
Further, no public money commitments identified for hydrogen based on fossil fuels.
Finally, no public money commitments identified for multiple fossil fuels.
A considerably larger amount of public money committed to supporting the economy and people of European Institutions through monetary and fiscal policies in response to the crisis may also benefit different elements of the energy sector. However, these values are not available from official legislation and statements and therefore are not included in the database. Meanwhile, in addition to monetary and fiscal measures, the database lists other policies and regulations that can also provide benefits to producers and consumers of different energy types.
These public money commitments are additional to many other government policies that had existed to support different energy types before the COVID19 pandemic.
Public money commitments to fossil fuels, clean and other energy in recovery packages, USD billion, as of 12 August 2020
|Read more||Jurisdiction||Category||Policy name||Policy type||Sector||Energy type||Stage||Mechanism||Legislation and endorsing agency||Arm of Government||Primary and secondary stated objective of the policy||Date of entry into force||Implemented repeal date, if any||Value as stated (specify currency)||Value committed, national currency||Value committed, USD||Value disbursed, national currency||Date of announcement||Value disbursed, USD||Policy background||Links to official sources||Links to additional sources|
|clean conditional||EIB loan to Swedish firm Nordvolt for the construction of a sustainable lithuim-ion battery cell factory||Fiscal||Other sector||Other energy type||Exploration or production or processing or storage or transportation||Loan (Hybrid)||European Investment Bank||Public finance institution||To support key European industries and technologies, particularly domestically-produced lithium-ion battery technology that is sustainably produced.||EUR||350.00 million||385462556||Unquantified||30/07/2020||Unquantified||Northvolt is currently constructing its gigafactory in northern Sweden, where the firm intends to use 100% renewable energy and locally-sourced raw materials to manufacture lithium-ion battery cells, predominantly for use in electric vehicles. Europe wants to boost such domestic industry while minimizing the carbon footprint.||
https://www.euractiv.com/section/batteries/news/eu-invests-e350m-in-first-domestic-battery-gigafactory/ Accessed 31 July 2020
|National||other energy||Just Transition Fund under EU Recovery Fund||Fiscal||Multiple sectors||Multiple energy types||Several energy stages||Budget or off-budget transfer (DT)||Government||Entice carbon-heavy countries to decarbonize, particularly CEE countries (biggest coal regions are in PL and DE).||EUR||10.00 billion||11013215860||Unquantified||21/07/2020||Unquantified||Additional funding under the EU Recovery Fund, but the program itself traces to the European Green Deal. In January 2020, the just transition budget was EUR 7.5 billion, to be allocated under the regular budget. An increase to EUR 40bn was suggested under the EU recovery fund, which was eventually decreased to an additional EUR 10bn. Since there is a disagreement over whether or not natural gas will be included as a potential beneficiary, this is currently allocated to 'other energy'. Since the European Parliament does not have formal authority to check this recovery fund, we consider the funding as approved.||
https://ec.europa.eu/info/sites/info/files/about_the_european_commission/eu_budget/com_2020_460_en_act_v6.pdf Accessed 28 July 2020
https://balkangreenenergynews.com/eu-cuts-just-transition-fund-to-eur-10-billion-in-covid-19-recovery-deal/ Accessed 28 July 2020
|European Commission||other energy||EU opens up 1 billion in grants from the EU Innovation Fund for breakthrough low-carbon technologies||Fiscal||Multiple sectors||Multiple energy types||Several energy stages||Budget or off-budget transfer (DT)||European Commission||Government||To fund breakthrough low-carbon technologies; to help restart th EU economy and create a green recovery.||03/07/2020||EUR||1.00 billion||1101321586||Unquantified||03/07/2020||Unquantified||This is the first call for proposals under the Innovation Fund, which is financed by revenues from auctioning allowances under the EU Emission Trading System. The first round is EUR 1 billion. In total, the Commission plans to allocate EUR 10 billion over the period 2020-2030, but this will depend on the price of carbon. Since EUR 1 billion is currently committed and approved, that figure is reported here. This measure is classified as "other energy" because it may benefit not only clean energy but also fossil fuels conditional on emission reductions, e.g. via carbon capture and storage.||
https://ec.europa.eu/clima/news/boosting-eu-green-recovery-commission-invests-1-billion-innovative-clean-technology_en Accessed 6 July 2020
https://www.euractiv.com/section/energy-environment/news/eu-opens-bidding-for-e1-billion-from-clean-technology-fund/ Accessed 6 July 2020