The EU’s long-term budget proposal includes a surprising fivefold increase in funding for cross-border energy infrastructure, which will help electrify sectors still reliant on fossil fuel imports. However, it cancels the LIFE program—the only dedicated tool for financing environmental measures.

Rising energy demand and frequent climate extremes are putting pressure on transmission networks. To help countries manage massive electrification while keeping prices low for consumers, the Commission has provided recommendations for building a cleaner and more efficient system.

EU Climate Commissioner Wopke Hoekstra told Euractiv that his plan to reduce greenhouse gas emissions by 90 percent compared to 1990 levels is not only achievable but also essential for Europe’s future.

The European Commission wants 44 major oil and gas producers to store 50 million tons of carbon dioxide underground annually by 2030. In Slovakia, Environment Minister Tomáš Taraba proposed building a storage facility, saying it would ease pressure on industry and help meet climate targets.