On Wednesday 14 July, the European Commission proposed a Social Climate Fund that could potentially raise €72.2 billion at current prices (or €144.4 billion with national co-financing) to smooth out the social impact of the measures announced as part of its package to target a 55% reduction in emissions by 2030 (the ‘Fit for 55’ package).
“Our package aims to combine emission reductions with nature conservation measures and to put jobs and social balance at the heart of this...