In the Budget report, the Executive reminds us that the Recovery and Resilience Plan (PRR) entails a total investment of 6,340 million euros committed to climate objectives through 2026, with 38 percent of global investment explicitly focused on climate transition. The amount spent in 2022 will be $687 million.
The government has set aside 94 million euros to improve public transportation systems by implementing initiatives to extend heavy passenger transport networks in metropolitan areas and modernize collective road transport fleets as part of its commitment to sustainable mobility. These investments have the “main goal of contributing to the global improvement of public transportation systems, improving the levels of accessibility and comfort of these systems, thus promoting greater use of public transportation, with the resulting reduction in reliance on individual transportation, the decarbonization of the transportation sector, and contribute to the recovery of the economic and social effects resulting from the pandemic crisis, in particular in terms of employment.”
A total of 68 million euros will be spent to promote the production of green hydrogen and other renewable gases, “with a strong focus on the production of renewable gases, including renewable electricity in the Autonomous Region of Madeira and energy transition in the Autonomous Region of the Azores.” Investments that allow for the “promotion of economic growth and employment while reducing national energy reliance” at the same time.
There are 123 million euros set aside to improve building energy efficiency and encourage the use of more efficient technology. “In this context, it is important to note the contribution of other PRR investments in the fields of health, housing, social responses, and qualifications and skills, through which support is provided for the renovation of buildings and infrastructures, following demanding energy efficiency criteria, or support for the construction of new buildings with a lower primary energy demand (completely less than 20%) than the NZEB requirement (buildings).”
The planned investment in promoting a sustainable bio-economy is 34 million euros, with the goal of supporting the development of a “national bioindustry through the production of new high-value products from biological resources in three strategic sectors of the Portuguese economy: textiles and clothing, footwear, and natural resin.” According to the government, “supporting the modernization and consolidation of the sector via the establishment of new value chains and more ecological and circular industrial processes” will be feasible in this way.
There will be 182 million euros to support industrial decarbonization, which will allow the industry to improve its competitiveness, reduce energy and resource consumption, and boost endogenous and renewable energy sources. Measures to accelerate the transition to a carbon-neutral economy in order to meet the goals of the National Economy and Climate Plan 2030.
Other sectors to be supported, totaling 186 million euros, including the protection of the maritime environment and the blue economy, the implementation of water management techniques, the preservation of forests, and battling rural fires.
