Open letter: Calling for a targeted European Competitiveness Fund that delivers climate and energy security
16 organisations sign open letter encouraging the EU to include energy security and climate in the new European Competitiveness Fund
Carbon Gap joins 16 other organisations in asking for the next EU budget to deliver climate security, clean industrial competitiveness and energy resilience. As negotiations begin around the next MFF (EU budget), we are asking the European Commission and European Parliament to create a new European Competitiveness Fund we are asking the European Commission and European Parliament to create a new European Competitiveness Fund fit for cleantech and CDR.
Specifically, we ask that carbon removal be directly targeted in the next MFF. CDR remains severely underfunded in the current MFF, receiving less than 0.1% of the EU’s projected climate budget for 2021-2027 across fragmented and opaque funding programmes. This is a significant barrier since many CDR methods are still scientifically uncertain or economically unviable. Insufficient funding is only one part of the puzzle, Carbon Gap’s in depth analysis of EU funding programmes shows that today’s fragmented funding landscape creates barriers for the very innovators Europe needs.
A new MFF fit for cleantech and CDR must start with protecting climate funding, balancing simplification with strategic focus, by ensuring all levels of technology development are covered, with a strong focus on RD&I, address existent funding gaps, and the structural challenges that prevent applications.
“The EU has one shot to get the European Competitiveness Fund right. That means making carbon removal a strategic priority and bringing technologies from lab to market — or risk missing climate targets and ceding industrial leadership. The time to act is now.” Rodica Avornic – Policy Director