EU plans climate-proof future infrastructure projects

The European Commission has released a new technical guideline on July 29 to help mainstream climate considerations in future investment and development of infrastructure. This includes infrastructure projects such as buildings, network infrastructure, and other forms of assets developed between 2021 and 2027. 

Following these new guidelines, both private and institutional investors will be empowered with the knowledge they need to make educated investment decisions. It will be easier for them to identify projects that comply with the Paris Agreement and the EU climate objectives. 

The commission also believes that this new guideline will help the EU deliver the European Green Deal, and also ensure that the requirements of the European Climate Law are duly followed. Overall, it will make EU spending greener. 

According to a statement issued by the EU,  the guideline is consistent with a greenhouse gas emission reduction pathway of -55% net emissions by 2030 and climate neutrality by 2050. It also conforms with the ‘energy efficiency first’  and ‘do no significant harm’ principles. It also conforms to the various rules laid out in the legislation for EU funds, including InvestEU, Connecting Europe Facility (CEF), European Regional Development Fund (ERDF), Cohesion Fund (CF), and the Just Transition Fund (JTF).