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Covenant of Mayors - Europe

Buildings

EU renewable energy financing mechanism

The mechanism will facilitate a more cost-effective roll-out of renewables across the EU, particularly in areas that have a greater access to natural resources or are better suited for it in terms of geography.

 the mechanism links countries that voluntarily pay into the mechanism (contributing countries) with countries that agree to have new projects built on their soil (hosting countries). However, there is no direct link or negotiation between contributing and hosting countries, as is required under other EU cooperation mechanisms.

Connecting Europe Facility (CEF)

The Connecting Europe Facility (CEF) supports the development of high performing, sustainable and efficiently interconnected trans-European networks in the fields of transport, energy and digital services.

In addition to grants, the CEF offers financial support to projects through innovative financial instruments such as guarantees and project bonds. These instruments create significant leverage in their use of the EU budget and act as a catalyst to attract further funding from the private sector and other public sector actors.

CEF Energy

Just Transition Fund

The Just Transition Mechanism (JTM) is a key tool to ensure that the transition towards a climate-neutral economy happens in a fair way, leaving no one behind. The Just Transition Fund (JTF) is one of its three pillars (together with the InvestEU Just Transition Scheme and the Public Sector Loan Facility). As the new instrument of the Cohesion policy supports the territories most affected by the transition towards climate neutrality to avoid regional inequalities.

ESF+

The European Social Fund Plus (ESF+), with a budget of almost € 99.3 billion for the period 2021-2027, provides an important contribution to the EU’s employment, social, education and skills policies, including structural reforms in these areas.

The Fund is one of the cornerstones of recovery from the coronavirus pandemic and will help address challenges related to labour participation, education and health systems and increased inequalities.

Cohesion Fund

The Cohesion Fund provides support to Member States with a gross national income (GNI) per capita below 90% EU-27 average to strengthen the economic, social and territorial cohesion of the EU. The Cohesion Fund supports investments in the field of environment and trans-European networks in the area if transport infrastructure (TEN-T).

It is also possible to use the CF in the form of financial instruments.

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