Croatia to Receive €1.4 bn From New EU Climate Action Social Fund

On Wednesday, the European Commission unveiled a major package of legislative proposals that should reduce greenhouse gas emissions by 55% by 2030. The “Fit for 55” package is a key element of the European Green Deal, which envisions the EU becoming climate neutral by 2050. In order to achieve that goal, it is estimated that by 2030 the greenhouse gas emissions will have to be reduced by at least 55% compared to 1990.

“While in the medium- to long-term, the benefits of EU climate policies clearly outweigh the costs of this transition, climate policies risk putting extra pressure on vulnerable households, micro-enterprises, and transport users in the short run,” the EC wrote on its website, among other things.

“A new Social Climate Fund is proposed to provide dedicated funding to the Member States to help citizens finance investments in energy efficiency, new heating, and cooling systems, and cleaner mobility. The Social Climate Fund would be financed by the EU budget, using an amount equivalent to 25% of the expected revenues of emissions trading for building and road transport fuels. It will provide €72.2 billion of funding to the Member States, for the period 2025-2032, based on a targeted amendment to the multiannual financial framework,” the EC said.

The Commission proposes a key for the distribution of the funds among member states which would take into account the percentage of the rural population and the level of energy poverty. Financing will be available to all member states, but the largest share will go to the countries with higher levels of energy poverty.

Croatia should get up to €1.4 billion, which is 1.4% of the total amount of the fund.

The highest amount, of €12.7 billion or 17.61% of the fund, has been earmarked for Poland.

In order to withdraw money from the fund, member states will have to draw up precise plans with measures to help the vulnerable population to invest in the energy renovation of buildings and to encourage the use of electric cars.

Half of the amount set in the plan would be financed from the European climate action social fund, and the other half would be co-financed by the member states.

Under the new plan that proposes Effort Sharing Regulation for member-states, Croatia is expected to reduce net greenhouse gas emissions by 16.7% in the sector of buildings, road and domestic maritime transport, agriculture, waste, and small industries s in 2030 in relation to its 2005 levels.

Member-states share responsibility for removing carbon from the atmosphere

The Commission says that “The Member States also share responsibility for removing carbon from the atmosphere, so the Regulation on Land Use, Forestry and Agriculture sets an overall EU target for carbon removals by natural sinks, equivalent to 310 million tons of CO2 emissions by 2030.”

National targets will require the Member States to care for and expand their carbon sinks to meet this target. By 2035, the EU should aim to reach climate neutrality in the land use, forestry, and agriculture sectors, including also agricultural non-CO2 emissions, such as those from fertilizer use and livestock.

Under this regulation, Croatia’s contribution is to remove 5,527 kilotonnes of CO2.

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