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Financing

EGEC key recommendations on the sustainable finance and geothermal energy

PUBLISHED: July 16, 2020

The sustainable finance regulation is a key opportunity to unlock the access to public and private finance for key renewable energy technologies, allowing the EU to implement its decarbonisation objectives. The implementation of the sustainable finance regulation, the establishment of a sustainable finance framework and the financing of sustainable investment however requires stakeholders to understand the needs of specific technologies that actively contribute to these objectives.

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POLICY DOCUMENTS

Financing

EGEC’s inputs to the EIB Group’s Climate Bank Roadmap 2021-2025

PUBLISHED: July 10, 2020

The EIB Group has organised a second round of stakeholder consultation in order to collect more inputs regarding the Bank’s ambition to become the EU’s first Climate Bank.

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POLICY DOCUMENTS

Financing

Open letter to the European Commission on establishing an EU risk management scheme for geothermal energy

PUBLISHED: June 3, 2020

The GEORISK Consortium sent an open letter to DG Energy Director-General Ditte Juul Jørgensen, European Commission, calling for the establishment of an EU risk management scheme for geothermal energy. In particular, this scheme should be tied to instruments that structure the European energy market such as TEN-E or the Connecting Europe Facility.

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POLICY DOCUMENTS

Financing

Stakeholder engagement on the EIB Group's Climate Bank Roadmap 2021-2025: Turning ambition into reality

PUBLISHED: April 24, 2020

The European Investment Bank (EIB) has declared its ambition to become the EU’s first Climate Bank. It will restructure its financial services for climate and environmental projects and will align all its financial operations in accordance with the Paris Agreement.

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POLICY DOCUMENTS

Financing

EGEC inputs to the consultation on the rules for sustainable investments: for a framework in favour of geothermal that does not support fossil fuels

PUBLISHED: April 24, 2020

Inception Impact Assessment on a Delegated Regulation on a climate change mitigation and adaptation.

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POLICY DOCUMENTS

European Green Deal, Financing

Ensuring the Just Transition Mechanism delivers robust support for regional transitions to sustainability

PUBLISHED: February 24, 2020

On 14 January 2020 the European Commission proposed a Just Transition Mechanism to mobilise at least €100 billion (over the period 2021-2027) to support regions most affected by the transition towards the zero-carbon economy.

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POLICY DOCUMENTS

Financing, Research, Innovation & Development

EGEC and the French Industry calling for stability for geothermal electricity in France

PUBLISHED: January 16, 2020

Following the proposal in the PPE (multiannual programming for energy) by the French Government to stop financial support to geothermal electricity, EGEC and the French industry call for a stable and forward looking framework.

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POLICY DOCUMENTS

Energy Transition, Financing

EIB Energy Lending Policy: No more funding for fossil fuel projects from 2022

PUBLISHED: November 15, 2019

The European Investment Bank is the largest public development bank, providing financing to a wide array of projects, notably in the energy sector. Yesterday, the EIB reached an agreement that it would stop providing funding to fossil fuel projects from 2022 owards.

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POLICY DOCUMENTS

Energy Transition, Financing

Joint industry letter for the EIB to stop financing fossil fuels

PUBLISHED: October 9, 2019

The European Investment Bank is currently in the process of drafting its updated energy lending policy. As the European Union is progressing towards decarbonisation, and the 2050 horizon is nearing quickly, EGEC joined other industry associations and think tanks to call for the EIB to promptly stop funding fossil fuel projects.

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POLICY DOCUMENTS

Energy Transition, Environmental legislation, Financing

EGEC Response to the public consultation on sustainable finance

PUBLISHED: September 20, 2019

Sustainable finance is an increasingly important topic in European policy making. A proposed regulation by the European Commission on this topic will have a major impact on the private financial sector, and its relationship with geothermal and other renewable energy investments.

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