European Commission executive vice-president Frans Timmermans
4 November 2022
EU doubles Innovation Fund to €3bn
Special focus on expanding renewables to make the bloc ‘immune to Russian energy blackmail’
The European Commission has stepped up its support for large-scale renewable energy and decarbonisation projects by doubling the budget of the EU Innovation Fund to €3bn ($2.94bn) on the back of increased revenues raised from the bloc's emissions trading system. The Commission opened the third round of the fund to applications in early November, citing a “special focus” on the priorities of its RepowerEU plan, which aims to end the EU’s dependence on Russian fossil fuels by accelerating the buildout of the bloc’s renewables sector. “Today, more than ever, we need to boost innovation and scale up technological solutions that tackle the climate crisis and bring Europe energy sovereignty,” says
Also in this section
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
18 November 2025
Vicki Hollub, president and CEO of Occidental, has been selected as the 2026 recipient of the Dewhurst Award, the highest honour bestowed by WPC Energy. The Dewhurst Award celebrates exceptional leadership, groundbreaking innovation and a lifetime of significant achievements in sup-port of the development and advancement of the energy industry.
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
