EFSI

In September 2016 the European Commission published its proposal for the prolongation of the EFSI until 2020, to be achieved by amending the existing regulation. We welcome several improvements, but are concerned that they fall short of properly tackling the challenges and shortcomings identified, namely to provide additionality and catalyse the unambiguous move to reduce GHG reductions. On the basis of our in depth report Best Laid Plans, which analysed the 93 projects approved until July 2016 and further analysis of the EFSI entire portfolio till the end of 2016 under the Infrastructure and Innovation Window (IIW), we consider that the EFSI regulation needs considerable improvements in the energy area.

The so-called European Fund for Strategic Investments (EFSI) should unlock additional investment of at least EUR 315 billion over a three year period (2015-2017). One of the projects benefiting from the financing concerns the design, construction, operation and maintenance of about 27km of a motorway around Bratislava. The project will come with high costs, will damage biodiversity and likely not solve local transport problems.

The so-called European Fund for Strategic Investments (EFSI) should unlock additional investment of at least EUR 315 billion over a three year period (2015-2017). One of the projects benefiting from the EU financing is a program that aims to promote energy efficiency in the housing stock through the funding of certain regional/local initiatives supporting energy renovation of private residential buildings in France.