European Council scheduled to discuss economic policy
The General Affairs Council of the European Union will today convene at the EU headquarters in Brussels to discuss economic policy.
Today’s meeting follows the March 16 adoption of Horizon Europe, a €95.5 billion framework for research and innovation spanning from 2021-2027. The project seeks to revolutionise scientific research and green economic growth in the EU by providing funding for large-scale international research collaboration on climate change, cancer research and technological advancement. The measure also includes a €5.4 billion COVID-19 relief fund.
Expect today’s discussion to further reinforce the European Council’s support of Horizon Europe, setting the stage for an April 1 vote by the European Parliament, which will likely sign the measure—which currently has near-unanimous parliamentary support—into law. The first area of focus will be in combatting climate change. More than one-third (35%) of the €95.5 billion budget is reserved for tackling climate change, with a primary goal being to reduce the carbon footprint of European cities. The initial focus will likely be placed on sustainable energy infrastructure, particularly the expansion of solar and wind power infrastructure throughout Europe. Expect subsequent focus to be placed on developing carbon-neutral public transportation, considered a key strategy in reducing metropolitan carbon output.
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