Publications

Europe has incrementally expanded its cleantech finance toolbox by adding new tasks to existing funds and new instruments alongside them.

Rarely does Europe get the chance to take a step back and reimagine its cleantech financing toolbox.

In the recent State of the Union speech, Ursula von der Leyen reiterated the need to stay on course towards Europe’s climate targets. In the coming months, the negotiations on EU’s Emission Trading System and the new framework for resilience and risk assessment will reveal the political and industrial forces at play, and if Member […]

The Innovation Fund is Europe's flagship programme for bringing breakthrough cleantech to market, but a growing share of its grant portfolio is stuck before financial close.

Returning from a summer marked by soaring temperatures, wildfires and drought, the EU is entering a season of decisive negotiations

Who could have predicted we'd endure an "unprecedented" summer in 2026, climate-wise? Unprecedented, like a chapter  of a good TV series. For Benoît Leguet, avoiding endless reruns of the same story— and their costs — means finding ways to factor future climates into our economic decisions. A topic for the EU's budget debate.  

It is hot in Europe. Very hot. And the summer has only just begun. The recent heat wave in large parts of Europe reminds us that the forthcoming European framework for climate resilience and risk assessment comes with high stakes: it is about the safety of populations and the competitiveness of the European economy. 

With the entry into force of the European carbon farming certification framework (CRCF), the European Union now has a first-of-its-kind tool to certify climate-friendly agricultural and forestry practices.

Once again, soaring oil prices are squeezing households' purchasing power, undermining industrial competitiveness, and exposing the EU's structural dependence on imported fossil-fuel energy.

The Industrial Accelerator Act: a stepping stone or paradigm shift? A reading of the European Commission’s propos

Subsidising projects is no longer enough. Without secured demand and a coordinated targeted European framework, the French and European green industries risk skidding to a halt on the road to scale.

What industrial policy should we pursue to support domestic cleantech, to secure our energy and industrial sovereignty?

The European Competitiveness Fund is the EU's best shot at financing its green industrial policy – if it is designed and targeted correctly.

European leaders gathered last week for a European Summit, with the objective, among others, of finding solutions to rising energy prices in the wake of the Middle East conflict.

Since 2005, the EU Emissions Trading System (EU ETS) has been a cornerstone of Europe’s climate policy. With the price per tonne of CO2 now beginning to stabilise at between €60 and €80, and the gradual reduction in free allowances, 2026’s review of the system should be an opportunity to reflect on and upgrade its performance as the EU continues towards climate neutrality.  

Several voices are now being heard in Europe, coming from Member States – including that of Chancellor Merz – and from industry, calling for the rules of the CO2 quota system to be weakened. For Benoît LEGUET and Jean PISANI-FERRY, this would be a mistake for Europe. And for France. On the contrary, we must strengthen this unique public policy in order to develop our industry. 

An outlook on EU investment needs for the energy transition and the EU’s 2040 climate target. Just before the start of COP30 in Belém, EU Member States agreed to reduce net greenhouse gas emissions by 90% in 2040 compared to 1990 levels, including a 5% flexibility through international carbon credits. 

The implementation of carbon farming practices on European farms and in European forests is a lever for achieving carbon neutrality, but also for farm resilience, the adaptation of forest stands to climate change and for contributing to our strategic independence. Certifying and financing low-carbon practices is the objective of the CRCF (Carbon Removals and Carbon Farming) regulation, which will come into effect in 2026. Now seems the right time to draw lessons from six years of experience with a similar standard in France: the “Label Bas-Carbone” (Low Carbon Label - LBC). The results show that striking a balance between scientific rigour and accessibility for stakeholders has led to the development of a substantial range of projects. However, the real challenge is to build sufficient and appropriate demand to finance the projects. There is no miracle solution, but complementary financing channels may emerge. 

How distant December 12, 2015 now seems. All delegations at COP21 had then rallied behind Laurent Fabius’s little green hammer. Ten years later, the trend is closer to backlash. Climate action is now often portrayed in the public debate as too costly, because it requires major investment. Ineffective, since our share of global emissions is small. Unfair, because it cuts into purchasing power. Too divisive, supported only by part of the electorate. Too late, since keeping the planet below +2°C of warming now seems out of reach. Arguments that are partly true—yet require substantial nuance. 

In the run up to the publication of the European Commission’s proposals for an automotive package on 10 December, car manufactures have stepped up the calls to relax the CO2 standards and the 2035 phase-out of new combustion-engine vehicles by including some flexibilities. They highlight the challenges the industry has faced in recent years, growing competitive pressure from China, and insufficient demand for electric vehicles in Europe as reasons for the sector needing more time for the transition required to meet the targets.