At the COP29 UN Climate Change Conference in Baku, the European Commission and EU Member States took the lead in brokering a deal to align global financial flows with the objectives of the Paris Agreement. Through the adoption of a New Collective Quantified Goal (NCQG) for Climate Finance, the EU successfully broadened the global contributor base for climate […]
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EU continues to be a global leader on sustainable finance
More than three years after the first transaction of our NextGenerationEU (NGEU) Green Bonds, the EU has issued more than €65 billion of NGEU Green Bonds, setting the EU on track to becoming the largest issuer of Green Bonds in the world. In line with the announcement of President von der Leyen in her State of the […]
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European Commission issues €7 billion in its 10th syndicated transaction of 2024
The European Commission raised last november 19 €7 billion of EU Bonds in its 10th syndicated transaction for 2024, €3 billion of which in the form of NextGenerationEU (NGEU) Green Bonds. The dual-tranche transaction concerned a €4 billion tap of the EU Bond maturing on 4 December 2031, and a €3 billion tap of the NextGenerationEU […]
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Booking must now comply with the Digital Markets Act
As of today, Booking Holdings Inc. (BHI), designated as gatekeeper on 13 May 2024, must ensure that its online intermediation service, Booking.com, complies with all relevant obligations of the Digital Markets Act (DMA). Concretely, this means hotels, car rental companies, and other providers of travel services that depend on Booking.com to reach their customers can begin to […]
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European Investment Bank mobilised €900 to back recovery and reconstruction after floods in Spain
On 6th November, the European Investment Bank (EIB) activated financial instruments to back recovery and reconstruction in areas affected by the recent devastating floods in Spain. The EIB is putting together an initial €900 million response package to speed up the rollout of existing initiatives and thereby support the rebuilding of critical infrastructure by regional authorities […]
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EU adopts rules to better measure the environment’s contribution to the economy
On 5 November, the Council formally adopted the amended regulation on European environmental economic accounts, the EU’s common statistical system which brings together economic and environmental information. The new rules extend the scope of the European environmental economic accounts, introducing forest accounts, ecosystem accounts, and environmental subsidies accounts. The amended regulation aims to provide better information for the […]
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Council reaches agreement on VAT package for the digital age
The Council reached agreement today on new measures to make EU VAT rules compatible with the digital age. This legislative package, with new rules on e-invoices and real-time data reporting and on business activities carried out through digital platforms, will combat tax fraud, support businesses and promote digitisation. Mihály Varga, Hungarian Minister of Finance, said: […]
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EU budget for 2025 to focus on research, health, education, and climate action
Parliament demands an EU budget for 2025 that focuses on improving people’s lives, boosting competitiveness, and addressing current challenges. MEPs set the overall level of commitment appropriations for the 2025 draft budget at almost €201 billion, €1.24 billion more than the Commission’s proposal from last June. Parliament wants to boost programmes vital in addressing health challenges, supporting young […]
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EU invests €4.8 billion of emissions trading revenues in innovative net-zero projects
The Commission has today selected 85 innovative net zero emission projects to receive €4.8 billion in grants from the Innovation Fund to help deploy cutting-edge clean technologies across Europe. The 2023 call for proposals awards for the first time projects of various sizes (large, medium and small, as well as pilot projects) focusing on clean […]
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