The European Parliament and the Council have reached an agreement to dedicate an additional amount of 20 billion euros to the Member States of the European Union (EU) to accelerate the green transition and reduce dependence on Russian fossil fuels.

The agreement, reached this Wednesday morning by the negotiators of both institutions, establishes that the EU countries that request to receive additional funds through a modified recovery and resilience plan must, after the entry into force of this proposal, include measures to save energy, produce clean energy and diversify supplies.

The new rules will cover, retroactively, measures implemented since February 1st, 2022, although with some limited exceptions.

These additional €20 billion in subsidies will be distributed to member states, taking into account their energy dependency ratio and the share of fossil fuels in gross inland energy consumption.

Of the total amount proposed by the Commission, €8 billion will come from a previous auction of national emission allowances under the EU’s Emissions Trading Scheme (ETS), while the other €12 billion will come from the Innovation Fund.

The provisional political agreement must now be approved by both committees of Parliament, before being put to a vote in plenary, while the Council must also approve the agreement for it to enter into force.

Source: dpa

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada The EU will invest another 20 billion euros in energy transition apareció primero en Bitfinance.

The Ministerial Conference on the Digital Economy of the Organization for Economic Cooperation and Development (OECD) will be held between December 13 and 16, 2022 in the Canary Islands and will focus on sustainable, inclusive and competitive digital transformation.

The Conference, which will be the first to be held on European territory, expects the participation of approximately 60 ministers responsible for the digitization sector in their respective countries. Among the guests, the member countries of the European Union stand out, as well as the United States, Japan, Mexico, Brazil and Canada.

The organizers are still analyzing the agenda of the Conference, but the aspects to be discussed are related to “digital rights, international data transfers, the principles of artificial intelligence, disinformation, connectivity, digital security or the double green transition. and digital.”

Canary Islands, leader in smart tourism

The holding of the Ministerial Conference on Digital Economy in the Canary Islands archipelago will become a leader in “intelligent tourism and digital destination for digital nomads” because it is among the 10 fastest growing global destinations for “digital nomads”.

During the Conference, different events will be held on the various islands that make up the archipelago, but it will be held centrally in the municipalities of Las Palmas de Gran Canaria and San Bartolomé de Tirajana.

The Digital Economy Policy Committee is a specialized formation within the OECD, in charge of developing policies based on realities that stimulate the growth of an accessible, innovative, open, inclusive, reliable, sustainable digital economy that promotes social well-being.

This committee is responsible for producing reports with “non-binding” recommendations that help coordinate and support national initiatives on digital transformation.

M. Rodríguez

Click the link to subscribe free to our news and media group on Telegram: https://t.me/G_ELSUMARIO_News

Source: revistatransformaciondigital.com

La entrada The Canary Islands will host the Conference on the digital economy apareció primero en Bitfinance.

The President of the Government of Spain, Pedro Sánchez warned at the Davos Economic Forum about the need for Europe to reform the electricity market, because otherwise it will endanger the green transition to which it aspires, due to the current situation of energy prices.

Sánchez pointed out: “We must modernize our European electricity regulatory framework because, if not, we will jeopardize the entire green transition.” He also stressed that the “consequences” of the current emissions trading system are already affecting families and industries.

He also stressed that “it makes no sense that we are paying gas prices when we have energies as competitive as renewables and that the emissions trading market is totally altered (…). It is necessary to be more ambitious on a European scale”.

Reforms to the electrical system

President Sánchez has wondered why it is “difficult” for the public authorities to intervene in the energy markets. “Instead, when the financial market is broken, politicians and economists advocate intervention,” he added.

In addition, he argued that politicians need to continue to have the support of society, so it is necessary for everyone to see the advantages of the green transition. For this, he has urged those responsible to avoid measures that could affect those segments of the population that are suffering the most from the consequences of the pandemic or the war.

On his side, the vice president of the European Commission, Frans Timmermans, has criticized the fact that energy companies “are pocketing enormous extraordinary profits while citizens suffer because they cannot pay their electricity bills.”

Thus, Timmermans has also considered it necessary to introduce reforms in the European electricity system, but has indicated that it is not something that can be resolved “overnight”.

M. Rodríguez

Click the link to subscribe to our news and media group on Telegram: https://t.me/G_ELSUMARIO_Noticias

Source: dpa

La entrada Sánchez warned about the reform of the European electricity market apareció primero en Bitfinance.