On Tuesday 23 October 2018, the European Court of Auditors (ECA) will publish a special report on the effectiveness of EU funding to support commercial deployment of carbon capture and storage and innovative renewables.
ABOUT THE AUDIT
The ECA examined the design, management and coordination of the two dedicated EU funding programs worth almost €4 billion. The auditors assessed whether they made the progress expected in helping carbon capture and innovative renewables advance towards commercial deployment. They carried out audit visits to five Member States: Germany, Spain, the Netherlands, Poland and the United Kingdom.
The report is expected to warn against poor achievements of EU support in terms of projects and results. The auditors are expected to single out the uncertainties in policies and rules as well as a lack of clear accountability and control. They will make a number of recommendations for improving the EU’s approach in view of the Innovation Fund to be launched in 2021.
ABOUT THE TOPIC
The EU climate and energy package for 2020 required an increased use and development of renewable energy sources and low carbon technologies. In 2009, the EU launched the European Energy Programme for Recovery with a budget of €1.6 billion to support carbon capture storage and offshore wind projects. At the same time, the EU created the New Entrants’ Reserve 300 funded by the sale of 300 million emission allowances (€2.1 billion). Both programmes set ambitious targets for carbon capture and storage and innovative renewable energy projects.
The ECA’s special reports set out the results of its audits of EU policies and programmes or management topics related to specific budgetary areas. The ECA selects and designs these audit tasks to be of maximum impact by considering the risks to performance or compliance, the level of income or spending involved, forthcoming developments and political and public interest.
Source: EUROPEAN COURT OF AUDITORS