Spain’s ecological stimulus plan among best in EU, experts say – EURACTIV.com
The contribution of Spain’s recovery, transformation and resilience plan to the green transition is among the best in the EU, according to a report by international climate experts highlighting the lack of European ambition to decarbonize the economy , partner of EURACTIV EFE Reports.
Spain plans to allocate 31% of the fund to green spending, according to the Green recovery monitoring. Finland, with spending close to 42%, tops the rankings among 14 EU countries, with Poland (18%), Portugal (19%) and Slovenia (5%) among the worst performers.
Spain plans to invest 70 billion euros in the green transition between 2021 and 2023, according to the plan submitted to the European Commission last week. However, climate experts said this figure is lower than the average share of green investment in the EU, which is 37%.
Regarding the Spanish plan, the experts specified that while “the general priorities are well defined”, information on exact measures and projects is “scarce” and the accountability mechanisms “are not very well defined”.
The study also shows that a combined analysis of the measures of the plans of the 14 countries analyzed shows a share of green spending of only 24%, and warns of a major risk if the investments end up supporting fossil fuels.
Examples of measures in the plans that are not aligned with the green transition include 3.2 billion euros set aside by Poland for energy efficiency purposes, but which can be used to support gas boilers, or the 600 million euros that Romania will devote to fossil gas infrastructure with no clear potential use of green hydrogen.
[Edited by Paula Kenny, Daniel Eck and Josie Le Blond]