Sunday, May 19, 2024
HomeEU affairsEU agrees on 21.4 billion euros to support Czechia's green and digital...

EU agrees on 21.4 billion euros to support Czechia’s green and digital transition

The European Commission adopted its Partnership Agreement with Czechia, laying down the country’s cohesion policy investment strategy worth 21.4 billion euros for the period 2021-2027.

In particular, investments worth 6.5 billion euros will increase the share of renewable energy sources, reduce energy consumption and greenhouse gas (GHG) emissions in public buildings and replace fossil fuel sources of energy with renewables, in support of REPowerEU objectives.

Moreover, Czechia will improve its response to climate change (including floods, droughts) thanks to the dedicated programme Environment which will finance nature-based actions and restoration of natural ecosystems and sustainable water management.

“This Partnership Agreement will allow Czechia to build an innovative economy, putting upfront the environment and climate-friendly solutions and promoting a transition to more sustainable and circular business practices,” commented Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevičius. “This partnership agreement will also contribute to developing in Czechia a resilient, sustainable, innovative and low-carbon aquaculture sector, in line with the EU Strategic guidelines for a more sustainable and competitive EU aquaculture for the period 2021 to 2030, as well as to boost the digital transition of the aquaculture sector.” 

The country will also accelerate its transition to a circular economy in line with the New Circular Economy Action Plan.

Additionally, the Just Transition Fund  (JTF) will provide 1.5 billion euros for the restructuring of businesses in their transition to a low-carbon economy, preserving jobs and for the diversification of the economy in the Czech regions most affected by the transition to a climate-neutral economy. Businesses will also develop new renewable energy sources, so as to bolster the circular economy. The funds will also support improving the quality of formal and non-formal education and the skilling and re-skilling of workers to build up a labour force that is ready to take up the new jobs that will be created by the economic transformation.

Furthermore, thanks to 4.1 billion euros, Czechia will develop clean urban and suburban public transport and charging infrastructure for clean vehicles. The future investments will contribute to increasing the quality, performance and attractiveness of rail as the backbone of sustainable transport. Finally, Czechia will use the EU funds to invest in sustainable, safe, climate-resilient, smart and interconnected national (non-TEN-T) and regional road infrastructure. 

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular