European Council Approves €330B Package, With Funding For Social, Environmental Projects

Mark Segal March 3, 2021

The Council of the European Union announced today the approval of the 2021-2027 cohesion package, making over €330 billion available for regional and local projects through the structural funds to help reduce economic disparities and boost the recovery from the pandemic.

Projects financed by the funds range from transport infrastructure, hospitals and healthcare, clean energy, water management, sustainable urban development, research, innovation and digitalisation to employment schemes, social inclusion, education and training. Approximately 30% of the structural funds will contribute to the decarbonisation of the economy, with each type of investment activity having a specific climate coefficient.

Nelson de Souza, Portuguese Minister for Planning, said:

“Cohesion policy is at the heart of European solidarity because people can feel its impact on the ground. Regions, workers and companies benefit from it. The legislative package for the new programming period will support the EU’s recovery and the green and digital transitions.”

Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.