9/16, 11:22 AM (Source: TeleTrader)
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EU Parliament approves funding for gas projects

The European Union Parliament voted on Tuesday to include funding of natural gas from its green energy Just Transition Fund.

The bloc's Just Transition Fund has €17.5 billion at its disposal and was designed to help members transition from carbon-dependant industries while minimizing the economic and social effects. "The amount allocated to the Just Transition Fund has gone from €40 billion to €17.5 billion," said Ludovic Voet, Confederal Secretary of the European Trade Union Confederation (ETUC), and explained that the difficulty lies in balancing the transition while preserving the socio-economic stability for developing states.

The formal approval in the second cast of votes will follow on Wednesday.

Breaking the News / AM