EU CLIMATE ACTION SOCIAL FUND TO COMPENSATE ETS FOR BUILDINGS

Could be seriously interesting as long as it makes room for private landlords, but that’s not a given.

At yesterday’s Plenary of the European Economic and Social Committee, Commission Green Deal Executive First Vice President Frans Timmermans said that an ETS for road transport and buildings will be counterbalanced by the creation of an EU Climate Action Social Fund for road transport and buildings. The money will come from part of the revenue generated by the ETS so that member states can compensate “any possible negative social fallout, especially for the most vulnerable citizens [for example] higher fuel costs”.

Full EPF Secretariat report under epf21-47 of 10.06.2021