EU Modernisation Fund: ETS Revenue for 13 Member States
The EU Modernisation Fund under Article 10d of Directive 2003/87/EC, financed from ETS allowances for energy modernization in 13 lower-income Member States.
The Modernisation Fund is financed from EU ETS allowances under Article 10d of Directive 2003/87/EC and supports energy system modernization in 13 beneficiary Member States. The European Commission estimates it at EUR 57 billion from 2021 to 2030, assuming a carbon price of EUR 75 per tonne CO2.
The full article will cover its Investment Committee, the European Investment Bank’s role, priority investments, and its comparison with the EU Innovation Fund and the draft IMO Net-Zero Fund .