InvestEU: “Many tools but little money”. Green transition in danger?
InvestEU is a key pillar of the EU’s recovery package, helping to provide long-term funding to companies and supporting sustainable investment, but the funding may not be enough to meet the financial goals of the European sustainable transition. “We have so many tools and so little money” admitted the European Commissioner for Budget Johannes Hahn.
The InvestEU regulation entered into force two years ago and it brought together the multitude of financial instruments previously available to support investment in the European Union - in particular private investments. From the green digital transition to supporting SMEs with the goal of achieving a more sustainable and inclusive growth with its broad eligibility, InvestEU can also play a central role in reinforcing the EU industrial lead in clean tech manufacturing, which is one of the most important sectors for the competitiveness of the European economy and for its future prosperity.
This week Members of the European Parliament’s Budget and Economic Affairs committees discussed on the latest state of play involving InvestEU and its implementation, and it