FROM THE NEXT GENERATION EU TO THE NATIONAL RECOVERY AND RESILIENCE PLAN

Abstract

This article traces the evolution of the measures taken by the European Union regarding climate change, on which the devastating effects of the health crisis are overlapped. The issue of climate change has been debated since 2016 when the first global agreement with binding legal force was launched in Paris. The agreement was signed in April and ratified by the European Union six months later. This background is rounded by the great crisis caused by Covid 19, crisis that has been spreading rapidly with the European area since 2020. In this context, the European Union decides to establish a temporary financial instrument, the Next Generation EU, with a total value of 750 billion Euros, separate from the long-term budget of the Union. The aim is to provide support to Member States against the challenges generated by the spread of the pandemic. The recovery and resilience mechanism is the main pillar of Next Generation and has an allocated budget of €672.5 billion. The scope of the recovery and resilience mechanism is to provide the necessary support for essential investments and reforms in order to recover and improve the economic and social resilience of the Member States.

Keywords

• climate changes
• alternative sources of energy
• paris agreement
• next generation
• integrated national energy and climate plan
• national recovery and resilience plan
• pandemic crisis
• energy crisis