Social climate fund: Fit for 55 package

European Parliament - EPRS Policy podcasts

European Parliament Webmaster

Non-profit, Government & Organizations

4.8 • 13 Ratings

🗓️ 10 December 2021

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The fit for 55 package is part of the Commission's European Green Deal, which aims to set the EU firmly on the path towards net zero GHG emissions (climate neutrality) by 2050. The fit for 55 package includes a regulation establishing a new social climate fund (SCF). The aim of the SCF is to help vulnerable households, micro-businesses and transport users meet the costs of the green energy transition in the buildings and road transport sector. The SCF is designed to counter the additional costs that vulnerable consumers may face when the EU Emissions Trading System (ETS) Directive is revised to cover these two sectors, as proposed in the fit for 55 package. The SCF aims to provide over €72 billion in EU funding over the 2025-2032 period.

- Original publication on the EP Think Tank website
- Subscription to our RSS feed in case your have your own RSS reader
- Podcast available on Deezer, iTunes, TuneIn, Stitcher, YouTube

Source: © European Union - EP

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the European Parliamentary Research Service podcasts.
0:06.0	In this podcast, we'll talk about the Social Climate Fund, a new tool with which the EU aims to support lower-income groups through the energy transition.
0:16.0	Want to know more? Stay with us.
0:19.0	The European Union wants to lead by example and is determined to become the first climate
0:26.6	neutral continent by 2050, hoping others will follow, and to get there, it wants to reduce
0:33.1	greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.
0:40.5	That's an ambitious target.
0:42.8	It certainly is.
0:44.3	That's why in July 2021, the Commission presented the so-called Fit for 55 package, a set of new
0:51.6	rules covering areas of climate, land use, energy, transport and taxation
0:56.9	to bring them into line with the targets agreed in the European climate law and put our economies
1:02.9	and societies on the green track. Let's listen to Commission's President Ursula von der Leyen
1:08.4	and Executive Vice President Franz Timmermans.
1:11.5	We have the goals. We have the climate law. We have it all underpinned by investment.
1:19.6	And now today it's about the roadmap. I believe we now have a package that can take us to our goal, which is now a legal obligation of reducing our emissions with
1:29.9	at least 55% by 2030, which would set us on a path of climate neutrality by 2050.
1:37.7	Yes, it is difficult. Yes, it is hard. But it's also an obligation.
1:42.4	But there's one caveat.
1:49.3	While in the long term, the benefits of the green transition clearly outweigh its costs,
1:53.8	climate policies risk putting extra pressure on vulnerable households,
1:58.0	micro-enterprises and transport users in the short run. So to soften the blow, the Fit for 55 package proposes a new social climate fund, Ursula von der Leyen.
2:06.7	The climate transition will be accompanied by a social climate fund.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from European Parliament Webmaster, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of European Parliament Webmaster and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.