The European Parliament has overwhelmingly voted in favour of the Social Climate Fund, a multi-billion euro fund that was negotiated jointly by EPP MEPs David Casa and Esther de Lange.
Casa will now lead negotiations alongside de Lange, on behalf of the European Parliament, in negotiations with EU governments, represented in the Council of the EU.
“The Social Climate Fund is the EU’s multi-billion euro answer to shielding citizens from the effects of climate change on energy,” Casa said. “The strong result is a convincing signal of the need to ensure that the transition to climate neutrality should also be a socially just one.”
Billions are set to go toward investing in energy efficiency measures for households and micro-enterprises, as part of a plan to reduce energy demand and consumption. Lower energy use will help cut down on emissions and increase savings for families and businesses.
“Thanks to the Social Climate Fund, we will secure more solar panels, more insulation, more efficient appliances, more efficient and affordable public transport, and more electric cars.”
Casa explained that EU governments will implement measures to finance investments for citizens and provide relief for energy bills through direct income support.
The Social Climate Fund was voted in as part of the Fit-for-55 package, an array of legislation intended to achieve a 55% reduction in CO2 emissions by 2030. This is Casa’s second multi-billion euro regulation, having concluded negotiations for the European Social Fund last year.
