Author: Rodrigo Sanz, Manager European Funds at Euro-Funding
Climate change and environmental degradation are the existential threats facing Europe and the rest of the world today. To overcome these challenges, Europe needs a new growth strategy to transform the Union into a modern, resource-efficient and competitive economy. The European Union will therefore respond to these challenges through the Green Deal call, based on sustainable growth that aims to end net greenhouse gas emissions by 2050 so that economic growth is decoupled from resource use.
The European Commission announced yesterday that over 2,000 sustainable innovation companies from 38 different countries have applied for financial support of €7.8bn from the one-off EIC Accelerator Green Deal call. We can expect a 4% success rate for this call, a similar level as for the October 2019 cut-off.
When Commission President Ursula von der Leyen outlined Europe’s “green recovery” plan to the European Parliament last week, it was understood that the Green Deal would be placed at the centre of the EU’s recovery effort.
The Green Deal has the capacity to help the EU economy recover from the COVID-19 crisis, with proposals of this specific call focusing on the following aspects:
- climate mitigation
- the transition to a clean & circular economy
- zero pollution ambitions
- toxic free environments
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