8/25/2023
The Modernization Fund has been established to drive ETS ambition in ten lower-income EU Member States
The Modernization Fund is a program established within the framework of the European Union Emissions Trading System (EU ETS). It is funded through revenues generated from the EU ETS.The main purpose of the Modernization Fund is to support the transition to a more sustainable and climate-friendly economy in EU Member States, particularly those with lower income levels.
Specifically, the Modernization Fund aims to provide financial assistance to ten lower-income EU Member States to help them in their efforts to achieve climate neutrality. This support can take various forms, such as investments in renewable energy projects, energy efficiency initiatives, and other activities that contribute to reducing greenhouse gas emissions and promoting sustainable development.
The fund plays a crucial role in ensuring that less affluent EU Member States have the resources and support necessary to meet their climate targets and obligations. It helps bridge the financial gap and fosters the transition to a low-carbon economy within the European Union.
For further details on the Modernization Fund: https://modernisationfund.eu
Climate Balanced is navigating organizations to build capacity and strategies around carbon market policies. You may reach out to our team for requesting a consultation call.