Tag: The Temporary Crisis and Transition Framework (1 articles)

Regulation   |   22 June, 2023 at 5:00 PM

EC approves €1.1 billion Hungarian scheme to foster transition to net-zero economy

The European Commission has approved a €1.1 billion Hungarian scheme to support electricity storage facilities to foster the transition to a net-zero economy. The scheme was approved under the State Aid Temporary Crisis and Transition Framework, adopted by the Commission on 9 March 2023 to support measures in sectors that are key to accelerating the green transition and reducing fuel dependencies in the context of Russia's war against Ukraine.

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EU leads the way in green finance
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EU leads the way in green finance

The EU has emerged as a global leader in green finance, having issued over €65 billion in NextGenerationEU (NGEU) Green Bonds since 2020.