Social climate fund: Fit for 55 package

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, to be paid for mainly by ETS credits in the buildings and road transport sectors. 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.

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Source: © European Union - EP