(ORDO NEWS) — The European Union has been urged to strengthen the new climate fund to shield its poorest citizens from the costs of switching to green energy, according to a report by a key lawmaker seen by Bloomberg.
According to the report of MEP Esther de Lange, the Social Climate Fund should start its work in 2024 – a year earlier than the European Commission proposed. This will be possible thanks to increased revenues from the new emissions trading system for transport and heating. This can increase the amount of funds the fund currently has.
Protecting the poorest – potentially through tax cuts and other forms of direct income support – should be a priority, de Lange said, as the new trading system could raise transport and heating costs for consumers.
Green transition should be affordable for everyone, not just those who can afford it
Esther de Lange
Member of the European Parliament
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