"On May 27, the European Commission will unveil details on its “Green Deal” strategy, which will offer a green economic recovery package while at the same time put some meat on the bones of the EU’s aim to reach net zero emissions by 2050.Specifically, the plan will propose a “recovery instrument” worth a half-a-trillion euros, according to Bloomberg, which obtained a copy of the draft document. Of that, between 60 and 80 billion euros would be aimed at boosting EV sales and building out EV recharging networks. EVs would be exempted from the VAT. Another 91 billion euros would go to retrofitting existing buildings. 10 billion euros would go to renewable energy projects. Around 30 billion euros would be funneled into technologies to cut emissions in sectors where it has been exceptionally difficult to do so, such as steel and cement."
