Discover and read the best of Twitter Threads about #SocialClimateFund
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@EU_Commission presented its #ownresources proposal today. It lays out 3 new revenue streams to:
- repay EU debt #NextGenerationEU
- finance the #SocialClimateFund
A short thread on what it means for #EUETS contributions based on some initial rough calculations 🧵1/13
- repay EU debt #NextGenerationEU
- finance the #SocialClimateFund
A short thread on what it means for #EUETS contributions based on some initial rough calculations 🧵1/13
First things first. 3 proposed new revenue streams are:
- 25% ETS (1+2) revenues: ~12.5b/y
- 75% CBAM revenues: ~0.8b/y
- 15% residual profits from large, profitable multinational enterprises: ~2.5-4b/y
2/13
ec.europa.eu/info/publicati…
- 25% ETS (1+2) revenues: ~12.5b/y
- 75% CBAM revenues: ~0.8b/y
- 15% residual profits from large, profitable multinational enterprises: ~2.5-4b/y
2/13
ec.europa.eu/info/publicati…
On #CBAM, this was obviously expected; still disappointing. Many (including @e3g) argue that revenues should flow back to vulnerable #LDCs through adaptation and mitigation finance.
@Europarl_EN also seems keen on this @MChahim @kvanbrempt @MalinBjork_EU @KarinKarlsbro 3/13
@Europarl_EN also seems keen on this @MChahim @kvanbrempt @MalinBjork_EU @KarinKarlsbro 3/13
Energy prices are rising, which has major consequences for households. This is a major concern for the @EPPGroup. One of Europe's key priorities right now should be tackling the problem of #energypoverty. #energycrisis
There is a variety of causes for today's high energy prices. Simply put, the supply of gas and electricity is decreasing while demand is increasing. Some claim that exporters abroad are reducing their European supply in order to raise prices even higher.
Some critics point the finger at climate-protection policies. This oversimplifies the issue. Today our ETS policy actually prices the environmental cost of CO2 emissions into electricity. EU policies incentivise producers to switch to cost-efficient alternatives.
1/11 Yesterday’s #Fitfor55 launch press conference was dominated by questions about the social impact. So, I took a bit of time to look at the new measures in the package to support low-income households to decarbonise. @RegAssistProj @RightToEnergy 
2/11 First, raised ambition across the package is good for all. Effects of #ClimateChange will be felt by poorest most. Climate ambition is essential but not enough. Climate ambition must come hand in hand with commitment to address structural inequities.
bit.ly/3kmIpTB
bit.ly/3kmIpTB
3/11 The Energy Efficiency Directive is the clear winner of prize for social conscience. New provisions include first EU definition of #energypoverty. Oddly it refers to lack of access to essential services but not affordability of those services and excludes cooking needs. #EED
