|Author (Corporate)||European Commission: DG Economic and Financial Affairs|
|Series Details||COM (2020) 21|
Communication published by the European Commission on 14 January 2020 setting out its Sustainable Europe Investment Plan (SEIP), the investment pillar of the European Green Deal.
The Sustainable Europe Investment Plan (also known as European Green Deal Investmen Plan - EGDIP) aims to mobilise through the budget of the European Union (EU) and the associated instruments at least €1 trillion of private and public sustainable investments over a decade. This follows from the need for great investment effort from all sectors of the economy to achieve sustainability across the Union, and from the understanding that private investor appetite for sustainable opportunities with measurable impact is on the rise. The Investment Plan is a comprehensive framework that aims to become a bridge between policy objectives and the private financial resources available. This framework targets climate, environmental and social investments, the latter as far as they are related to the sustainable transition.
Complementing other initiatives announces under the European Green Deal, this Plan is based on three dimensions:
This Communication also acknowledges that, while all regions require funding for the green transition, the transformation is to become particularly challenging for some territories in particular. In order to address these particular challenges, the European Commission proposes the creation of a Just Transition Mechanism (JTM) that is able to provide targeted support to generate the necessary investments in those regions. This Mechanism consists of three pillars:
Finally, the Communication envisages an annual Sustainable Investment Summit, to take stock of prohress across the different work streams included in the SEIP, and identify new avenues for action.
This plan was subject to discussion at the plenary session of the European Parliament on the same day as it was launched. In late May 2020, the European Commission revised the draft laws relating to the Mechanism in light of the revised proposals for the Multiannual Financial Framework (MFF) 2021-2027.
|Subject Categories||Economic and Financial Affairs, Environment|
|Subject Tags||Sustainable Development|
|Keywords||Sustainable Development Goals [SDGs]
|International Organisations||European Union [EU]|