Share this on social media
EU’s Breton looking into ‘non-conventional’ measures to finance Green Deal
(EurActiv, 21 Jan 2020) The EU’s internal market commissioner, Thierry Breton, suggests tapping into the ECB’s “easy money” and issuing long-term bonds of up to 50 years in order to unlock the €1,000 billion needed to finance the European Green Deal. EURACTIV France reports.
During a visit in Paris on Monday (20 January), Thierry Breton spoke of unlocking non-conventional sources of financing to support the Green Deal, with help from the European Central Bank (ECB).
France’s EU Commissioner for the Internal Market said he intends to look into the European Green Deal particularly from an industrial and financial perspective.
But he warned against pushing for quick fixes to the climate crisis, saying the energy transition was a marathon, not a sprint. “The transition cannot be done in one day, even in Paris,” said Jacques Chirac’s former economy minister.
“I have been through industrial transitions – it lasts a generation, 25 years,” he cautioned, saying he would present “a real industrial vision that the European Union lacked” in a few week’s time.
ECB quantitative easing to the rescue
Appointed only six weeks ago, the former CEO of French digital and consulting firm Atos has started reflecting on how to finance the energy transition. He recognises that the financing needs, which the Commission estimates at €1 trillion over the next 10 years, are very ambitious.
To unlock funding of such magnitude, Breton suggests starting with the creation of very long-term bonds, “of 20, 30 or even 50 years, which would make it possible to take advantage of low or even negative interest rates”. According to him, these would be the most appropriate tools to finance the ecological transition.
External link
EurActiv, 21 Jan 2020: EU’s Breton looking into ‘non-conventional’ measures to finance Green Deal
More Related News
European Green Deal
15 Apr 2024: Green Deal 2.0: Spain’s Ribera lays down vision for next Commission
9 Apr 2024: The Guardian view on Europe’s troubled green deal: make the case, not concessions
21 Mar 2024: Lobby groups call for business-friendly turn of the EU Green Deal
12 Mar 2024: The European Green Deal isn’t coping with a turbulent world. What must change?
9 Feb 2024: Next EU legislative term must reconcile climate and industry, says French think tank
26 Jan 2024: Polish farmers rally against Green Deal, Ukrainian food imports
11 Jan 2024: 2024-2029: Five years to deliver the Green Deal’s mobility promises
22 Dec 2023: Preview 2024: Elections to shape future of European Green Deal
4 Dec 2023: Czech far-right parties to push for Green Deal reversal after EU elections
28 Sep 2023: EU faces ‘make or break moment’ for green transition, report says
8 Sep 2023: Climate policy focus now shifting to implementation, EU says
26 Jun 2023: EU must pick up speed to reach climate goals, report says
5 Jun 2023: Green Deal: EU’s Timmermans rules out ‘break’ in the green transition
11 May 2023: Austrian conservatives join pushback against EU’s Green Deal
23 Sep 2022: Half of Czechs fear EU Green Deal will harm economy
6 Sep 2022: EU Parliament fights over sustainability criteria for insurance sector
19 May 2022: EU plans ‘massive’ increase in green energy to help end reliance on Russia
14 Jan 2022: Draft EU ‘green claims’ law overly focused on CO2 impact, critics say
13 Dec 2021: EU’s Timmermans: Brussels ‘will support’ member states that choose nuclear
30 Nov 2021: Barbara Steenberge: Green Deal cannot be paid by the most vulnerable tenants
25 Oct 2021: Nothing is more blah-blah-blah than the EU’s ‘sustainable’ trade policy
9 Jul 2021: Balance climate ambition with recovery efforts so that East can meet West
6 Jul 2021: VW, Daimler, Volvo team up to build truck chargers
14 Jun 2021: Five steps the EU can take to create a circular economy for cars
26 Apr 2021: From coal and steel to carbon-free and digital: the EU reaches turning point
26 Apr 2021: Von der Leyen calls for African green deal
5 Apr 2021: Mercosur trade deal threatens to wreck EU’s climate credibility
18 Mar 2021: ‘Very big tasks ahead’ in EU climate law negotiations
9 Mar 2021: Austria vetoes Mercosur deal saying it goes against EU Green Deal
9 Mar 2021: Crunch time in the climate law negotiations
2 Mar 2021: EU plotting ban on internal combustion engine as of 2025: industry
23 Feb 2021: Why the Commission is getting it wrong on climate number-crunching
22 Feb 2021: Only fractions of global heavy industry are aligned with Paris climate goals
22 Feb 2021: A new, climate-innovation led industrial strategy for Europe
8 Feb 2021: Germany’s RWE uses Energy Charter Treaty to challenge Dutch coal phase-out
25 Jan 2021: Europe must become a global climate power
21 Jan 2021: Slovakia struggles to keep pace with rapidly transforming car sector
18 Jan 2021: Brussels postponed green finance rules after 10 EU states wielded veto
14 Jan 2021: Businesses and consumers will decide whether the EU Green Deal works
21 Dec 2020: Time for a global Green New Deal
21 Dec 2020: From Paris to Glasgow: the EU must drive climate action at home and abroad
17 Dec 2020: EU agrees its green transition fund will not support natural gas
17 Dec 2020: EU shifts energy infrastructure funding away from gas, into electricity grids
11 Dec 2020: EU seeks 2030 climate deal by delaying decision on details
10 Dec 2020: Which technologies should be in the EU’s climate action toolbox?
7 Dec 2020: EU climate deal unlikely without breakthrough on budget, envoy says
7 Dec 2020: Time to step up: 5 years on from Paris
30 Nov 2020: Parliament backs consumer’s right to repair in push towards circular economy
30 Nov 2020: Energy: A critical raw material in its own right?
30 Nov 2020: Europe on track to smash its 2020 climate goal, EEA says
19 Nov 2020: European Green Deal needs to deliver on global challenges
27 Oct 2020: Europe needs a system change to meet Green Deal, says EU chief
5 Oct 2020: Energy performance in buildings is key to meeting 2030 emissions target
25 Sep 2020: EU considers allowing more state aid to boost green projects
15 Sep 2020: An EU 2030 climate target of at least 55% is not only necessary – it is also possible
14 Sep 2020: EU commission accused of 'cheating' on net-zero emissions accounting
14 Sep 2020: LEAK: EU’s 2030 climate plan makes case for 55% emissions cut
10 Sep 2020: Showcasing the need to improve energy performance of industry
25 Aug 2020: Draft EU methane strategy shies away from binding emissions standards
24 Aug 2020: EU can help Africa become the ‘greenest continent’: German minister
24 Aug 2020: Tougher EU climate target technically, economically feasible, researchers say
21 Aug 2020: Environment agenda: EU climate talks enter decisive phase
20 Aug 2020: Transport timetable: What’s moving in late 2020
15 Jul 2020: Green budget rules won’t be the hottest potato at EU summit talks
14 Jul 2020: A green and innovative recovery
14 Jul 2020: EU budget plan falls far short on climate goals, researchers say
13 Jul 2020: Renewable hydrogen: a strategic opportunity for global green recovery
10 Jul 2020: MEPs ban nuclear from green transition fund, leave loophole for gas
10 Jul 2020: EU Commission charts path towards 100% renewable hydrogen
10 Jul 2020: EU unveils blueprint for a more efficient energy system
15 Jun 2020: Europe’s oil refiners outline path to climate neutrality by 2050
8 Jun 2020: Policy brief: Energy sector integration
29 May 2020: EU lawmakers debate 65% climate target proposal
28 May 2020: The European Investment Bank must go further to truly become a ‘climate bank’
28 May 2020: EU recovery fund is a chance to accelerate the circular economy
26 May 2020: In political U-turn, Czechs back EU’s green recovery plan
25 May 2020: Green recovery hinges on the right data
21 May 2020: The EU’s state aid regime is upside down
21 May 2020: EU’s ‘Clean Hydrogen Alliance’ must focus on renewables, greens insist
19 May 2020: EU plans sweeping bioenergy review by end 2020
14 May 2020: Environmental NGOs launch appeal for green reconstruction
8 May 2020: Financiers join EU ‘green recovery alliance’
7 May 2020: How the coronavirus recovery effort can support a European Green Deal
7 May 2020: EU eyes green conditions on state aid to virus-hit firms
5 May 2020: EU climate neutrality goal not negotiable amid pandemic - lawmakers
4 May 2020: Green Deal will be ‘our motor for the recovery’, von der Leyen says
23 Apr 2020: Timmermans promises green recovery to EU lawmakers
20 Apr 2020: Four more EU nations back a green post-coronavirus recovery
16 Apr 2020: Which world do we want after COVID-19?
16 Apr 2020: How the coronavirus outbreak affects the EU’s 2030 climate targets
16 Apr 2020: LEAKED: Full list of delayed European Green Deal initiatives
2 Apr 2020: ‘We won’t slow down’ on climate: EU reacts to COP26 postponement
2 Apr 2020: Global hopes for hydrogen economy revived amid EU push
2 Apr 2020: EU presses on with tighter 2030 climate target despite pandemic
1 Apr 2020: #EUGreenRecovery to restart Europe – call to EU leaders
31 Mar 2020: Stakeholders call for ‘reality check’ on EU road transport and energy policy
30 Mar 2020: Poland says virus fallout makes it ‘even more difficult’ to hit EU climate goal
26 Mar 2020: Beyond the corona darkness: Bringing light, air and sustainability into people’s homes
24 Mar 2020: EU cost-benefit study seen backing 55% emissions cut by 2030
19 Mar 2020: Green Deal deserves a better Energy Taxation Directive in 2020, not years from now
19 Mar 2020: Green Deal facing delays due to coronavirus, EU admits
17 Mar 2020: Czech PM urges EU to ditch Green Deal amid virus
10 Mar 2020: EU’s industrial strategy must serve climate neutrality, not undermine it
10 Mar 2020: EU experts recommend two-tier approach to ‘green’ investment rules
10 Mar 2020: Exxon lobbyists urged Commission to tune down car CO2 rules
10 Mar 2020: Eleven million jobs at risk from EU Green Deal, trade unions warn
3 Mar 2020: Bulgaria wants €33 billion to start implementing the Green Deal
3 Mar 2020: Environment groups say EU's planned climate law means a lost decade
3 Mar 2020: EU’s just transition ambitions face acid test
20 Feb 2020: The European Green Deal will bypass the poor and go straight to the rich
13 Feb 2020: EU starts to chart shipping’s new green course
6 Feb 2020: The role of sustainable bioenergy in delivering the European Green Deal
6 Feb 2020: Europe plans to harness ‘power of data’ in support of Green Deal
4 Feb 2020: Germany is not fit for a climate changed world, but it can still lead the way
27 Jan 2020: Piecing together Europe’s climate finance puzzle
23 Jan 2020: EU Green Deal can help set the tone for CEOs in Davos
21 Jan 2020: Industrial decarbonisation and the EU Green Deal: The case for bold action
16 Jan 2020: ‘Green’ alert: environmental risks top Davos report
16 Jan 2020: Not all member states will benefit from the European Green Deal
16 Jan 2020: Question marks raised over scale of EU’s new climate fund
16 Dec 2019: The indispensable second wave of the Green Deal: A Green Industry Strategy
12 Dec 2019: France, UK block green finance deal in setback for climate goals
12 Dec 2019: Europe must lead on the climate crisis. The European Green Deal shows how
12 Dec 2019: EU Commission unveils ‘European Green Deal’: The key points
9 Dec 2019: Time is ripe to align EU policies with Paris Climate Agreement
6 Dec 2019: EU agreement on 2050 climate neutrality can help spur a renovation wave
