Print Magazine
Brussels Morning Newspaper
Tuesday, October 3, 2023
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home Europe

Italy to use EU funds for green transition

Nikola Kiš by Nikola Kiš
12 March 2021
in Europe
Italy to use EU funds for green transition

Puzzle with the national flag of european union and euro banknote

Share on FacebookShare on Twitter

Brussels (Brussels Morning) Italy’s Minister for Ecological Transition, Roberto Cingolani, has announced the country plans to use EU funds to reduce its carbon emissions roughly 60% by 2030 compared to 1990 levels, Reuters reported on Thursday.

In a telephone call with US Special Presidential Envoy for Climate, John Kerry, on Wednesday, Cingolani pointed out that the plan, which draws on 80 billion euro of EU funds to finance it, represents “a massive improvement” for Italy.

He informed Kerry that the plan is “to install 40 gigawatt-hours of renewable energy in the country to accelerate decarbonisation by 2050”. A significant aspect would be a commitment to speed up the project approval process by cutting through bureaucratic obstacles and the associated red tape.

Cingolani said the new energy transition plan should be completed by May. Kerry wished him well, telling him, “if you can change any bureaucracy you’ll be my hero”. 

Old plan was less ambitious

While the EU recently announced plans to cut greenhouse gas emissions 55% by 2030 compared to 1990 levels, Italy’s most recent national energy plan in December 2019, had set a reduction target of 33% by 2030. Additionally, the EU plans to reach carbon neutrality by 2050, with Brussels increasingly focused on environmental policies in recent years.

In creating the Ecological Transition Ministry, Italy’s Prime Minister Mario Draghi tasked it with steering the country’s energy shift in pursuit of environmental goals. 

Large energy sector companies, including the Enel power utility and the Terna grid operator, had shared their concerns bureaucratic obstacles were holding back progress.

It was also announced on Thursday that the state-owned CDP investment bank and the Eni oil and gas company have formed GreenIT, a joint venture, which plans to invest some 800 million euro in renewable energy projects over five years.

GreenIT aims to reach an installed capacity of approximately one GW by 2025 as part of Italy’s efforts to lower greenhouse gas emissions and produce more power from renewables.

Eni holds 51% of the new company and CDP holds the remaining 49%.

Follow Brussels Morning
Facebook Twitter Youtube Linkedin

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

More Info

  • About Us
  • Advertising
  • Cookie Policy
  • Contact Us
  • FAQ
  • Jobs

Categories

  • Belgium News
  • Brussels
  • Culture and Society
  • Economy
  • EU Institutions
  • Commission
  • Council
  • Parliament
  • Europe
  • Features
  • Health & Fitness
  • In Depth
  • Ambassador’s Corner
  • Europe With Transparency
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Member States
  • Opinion
  • Our pick
  • Uncategorised
  • World
  • Diplomacy
  • Middle East Eye
  • US Elections
  • Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2020

    No Result
    View All Result
    • Home
    • About Us
    • Brussels Bubble
      • Parliament
      • Commission
      • Council
    • Wider Europe
      • Member States
    • World
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT