COVID-19 crisis will spoil Greek climate-related plans

Significance

After securing a record allocation from the new EU budget, estimated at EUR72bn (USD84.8bn), the Greek authorities must now formulate a comprehensive strategic development plan in order to claim the funds. This must be compatible with EU-wide climate objectives and be aligned with the National Energy and Climate Plan (NECP) Athens submitted to the European Commission in late 2019.

Impacts

• EU funding for gas and renewable energy projects will improve Greek energy security.
• Increased frequency and severity of natural disasters due to climate change will have to be incorporated in financial risk assessments.
• CAP payments will serve as a safety net for and a driver of the modernisation of the Greek agricultural sector.