Letter

Investors letter to Juncker on EU investment in clean energy and transport

May 15, 2018

A group of leading utilities, investors and NGOs have called on President Juncker to invest more money in zero-emission mobility and power generation when allocating the EU budget after 2020. Aviva Investors, 2 Degrees Investing, Eurelectric, Ocean Energy Europe, Mirova Investing, E3G, Greenway, Climate Bonds Initiative, Fastned and T&E demand future EU investment be focused on decarbonising the transport sector.

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To foster synergies and build a forward-looking industrial Strategy for Europe, the revision of Europe’s financing instruments for research, development, and infrastructure must be in line with four priorities:

1. Make zero emission mobility an explicit objective of the MFF, as well as in the Connection Europe Facility (CEF) Regulation for Energy and Transport and the European Structural and Investment Funds (ESIF).

2. Support through the MFF investments in EU regions where a business case is not there yet.

3. Develop cross-sectoral funding.

4. Prioritise investments that support the continued decarbonisation of the power sector and the development of renewable energy, thus ensuring energy security and sustainable economic growth across the EU.

The letter concludes: The EU budget should help building the infrastructure needed for a cleaner energy and transport sector, shifting investment in high carbon transport projects to zero carbon activities. Supporting cleaner and smarter systems for transport and energy will improve the efficiency of both sectors while making Europe a healthier place to live, fostering its industrial leadership in clean technologies, and creating local and skilled jobs. It will support European companies to drive innovation by building new competitive and future-proof business models.