Report
The imminent end of the Recovery and Resilience Facility (RRF) will leave a critical gap in EU funding for essential climate, social, and biodiversity investments. Finance Watch, as part of the FiscalMatters coalition, is calling for the establishment of a new ‘Next Generation 2.0’ fund, crucial for safeguarding the EU’s strategic autonomy and ensuring long-term investment needs are met.
In the joint letter below, addressed to Members of the European Parliament, a coalitiion of civil society organisations urges EU leaders to create a new EU fund to address long-term investment gaps in climate, social, and biodiversity projects. With the Recovery and Resilience Facility (RRF) set to expire, nearly half of the EU’s crucial funding for these areas will vanish, putting at risk the goals of the European Green Deal and the EU’s strategic autonomy.
The letter emphasizes the need for a Next Generation 2.0 fund to secure a just transition and continue addressing the polycrises of climate change, social inequalities, and biodiversity loss. Signatories underline the public support for increased action in these areas, particularly with EU investment gaps showing worrying trends.
The letter calls on Members of the European Parliament to seize the opportunity during the upcoming Commissioner hearings to demand firm commitments to this new fund. This proposal aims to secure the EU’s path towards resilience and sustainability while ensuring that national budget constraints do not compromise strategic EU goals.
