Latest News

Sakharov Prize 2024: presentation of candidates

Sakharov Prize 2024: presentation of candidates Sakharov Prize 2024: presentation of candidates
On Thursday, political groups presented their candidates for the 2024 Sakharov Prize during a joint committee meeting. The three finalists...
Read More...

Over 100 companies sign EU AI Pact to foster safe and trustworthy AI development

Over 100 companies sign EU AI Pact to foster safe and trustworthy AI development Over 100 companies sign EU AI Pact to foster safe and trustworthy AI development
  The European Commission announced today that over 100 companies have become the first signatories of the EU Artificial Intelligence (AI)...
Read More...

European Parliament condemns human rights violations in Afghanistan, Belarus, and Cuba

European Parliament condemns human rights violations in Afghanistan, Belarus, and Cuba European Parliament condemns human rights violations in Afghanistan, Belarus, and Cuba
On Thursday, the European Parliament adopted three resolutions addressing the worsening human rights situations in Afghanistan, Belarus, and...
Read More...

Future European Commission discussed by EP leaders

Future European Commission discussed by EP leaders Future European Commission discussed by EP leaders
European Parliament (EP) leaders held discussions with the Commission President-elect Ursula von der Leyen regarding the structure and portfolios...
Read More...

€2.7 million from European Globalisation Adjustment Fund to aid 365 laid-off workers in Belgium

€2.7 million from European Globalisation Adjustment Fund to aid 365 laid-off workers in Belgium €2.7 million from European Globalisation Adjustment Fund to aid 365 laid-off workers in Belgium
The European Commission has proposed a financial package of €2.7 million from the European Globalisation Adjustment Fund for Displaced Workers...
Read More...

European Central Bank cuts interest rates amid slowing growth and cooling inflation

European Central Bank cuts interest rates amid slowing growth and cooling inflation European Central Bank cuts interest rates amid slowing growth and cooling inflation
  On Thursday, the European Central Bank (ECB) announced a quarter-point interest rate cut, marking the second reduction this year following...
Read More...

EU auditors reveal billions in climate funds potentially misallocated in green transition efforts

EU auditors reveal billions in climate funds potentially misallocated in green transition efforts EU auditors reveal billions in climate funds potentially misallocated in green transition efforts
  A significant portion of the funds earmarked for EU climate objectives and the green transition may have been misused, according to a...
Read More...

The long-awaited Draghi report on EU competitiveness: what to expect

The long-awaited Draghi report on EU competitiveness: what to expect The long-awaited Draghi report on EU competitiveness: what to expect
Former Italian Prime Minister and central banker Mario Draghi is set to unveil his long-awaited report on EU competitiveness, which is expected...
Read More...

Must Read

Most Popular Stories

VIDEO AND audio news:

Features, views, analysis

business

Latest News

Sakharov Prize 2024: presentation of candidates

Sakharov Prize 2024: presentation of candidates Sakharov Prize 2024: presentation of candidates
On Thursday, political groups presented their candidates for the 2024 Sakharov Prize during a joint committee meeting. The three finalists...
Read More...

Over 100 companies sign EU AI Pact to foster safe and trustworthy AI development

Over 100 companies sign EU AI Pact to foster safe and trustworthy AI development Over 100 companies sign EU AI Pact to foster safe and trustworthy AI development
  The European Commission announced today that over 100 companies have become the first signatories of the EU Artificial Intelligence (AI)...
Read More...

European Parliament condemns human rights violations in Afghanistan, Belarus, and Cuba

European Parliament condemns human rights violations in Afghanistan, Belarus, and Cuba European Parliament condemns human rights violations in Afghanistan, Belarus, and Cuba
On Thursday, the European Parliament adopted three resolutions addressing the worsening human rights situations in Afghanistan, Belarus, and...
Read More...

Future European Commission discussed by EP leaders

Future European Commission discussed by EP leaders Future European Commission discussed by EP leaders
European Parliament (EP) leaders held discussions with the Commission President-elect Ursula von der Leyen regarding the structure and portfolios...
Read More...

€2.7 million from European Globalisation Adjustment Fund to aid 365 laid-off workers in Belgium

€2.7 million from European Globalisation Adjustment Fund to aid 365 laid-off workers in Belgium €2.7 million from European Globalisation Adjustment Fund to aid 365 laid-off workers in Belgium
The European Commission has proposed a financial package of €2.7 million from the European Globalisation Adjustment Fund for Displaced Workers...
Read More...

European Central Bank cuts interest rates amid slowing growth and cooling inflation

European Central Bank cuts interest rates amid slowing growth and cooling inflation European Central Bank cuts interest rates amid slowing growth and cooling inflation
  On Thursday, the European Central Bank (ECB) announced a quarter-point interest rate cut, marking the second reduction this year following...
Read More...

EU auditors reveal billions in climate funds potentially misallocated in green transition efforts

EU auditors reveal billions in climate funds potentially misallocated in green transition efforts EU auditors reveal billions in climate funds potentially misallocated in green transition efforts
  A significant portion of the funds earmarked for EU climate objectives and the green transition may have been misused, according to a...
Read More...

The long-awaited Draghi report on EU competitiveness: what to expect

The long-awaited Draghi report on EU competitiveness: what to expect The long-awaited Draghi report on EU competitiveness: what to expect
Former Italian Prime Minister and central banker Mario Draghi is set to unveil his long-awaited report on EU competitiveness, which is expected...
Read More...

Must Read

Most Popular Stories

 

A significant portion of the funds earmarked for EU climate objectives and the green transition may have been misused, according to a new report by the

European Court of Auditors. The report also reveals that some projects labeled as "green" were not as environmentally friendly as initially claimed.

The European Court of Auditors found that billions from the EU's Recovery and Resilience Facility (RRF), established in 2020 to support economic recovery after the pandemic, may have been misallocated. This fund was intended to prioritize climate action and the green transition, with at least 37% of the budget dedicated to these areas.

The European Commission had reported success, stating that 42.5% of the funds, or approximately 275 billion euros, had been allocated to climate-related initiatives. However, the auditors now dispute this, estimating that 34.5 billion euros less was spent on green projects than reported.

The Court of Auditors highlighted that several projects had minimal connection to the green transition. One such project involved digitizing water supply systems through an IT initiative, which was categorized as a climate action project despite its limited environmental impact.

Moreover, some projects were less environmentally friendly than presented. For example, funding was granted to a hydropower plant with pump storage that led to water pollution, despite the lack of a thorough environmental assessment.

The auditors concluded that the EU's system for assessing projects' climate contributions was too vague, resulting in inflated claims and misallocated funds.

In response, the European Commission defended its position, reiterating that over 42% of the budget had been allocated to green projects and asserting that its methodology was sufficiently precise. Photo by Spielvogel, Wikimedia commons.

deneme