This is one of the first concrete projects under the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative (T-MED)<\/a>, which aims to support cooperation in renewable energy and clean tech between the EU and southern Mediterranean partners.\u00a0<\/p>\n The EU package covers 44% of the total program cost, with the remainder provided by EETC\u2019s own funds. The government will act as a borrower through the Central Bank of Egypt<\/a>, and EETC will lead implementation. The EIB-supported phase runs from 2027 to 2030.\u00a0<\/p>\n ***<\/p>\n Further reading: Egypt and EU join forces on \u20ac690 million clean-energy grid investment<\/a><\/p>\n Featured ESG Tool of the Week: Community opposition intensifies over Oakland coal terminal plan Trump announced the use of wartime powers (Defense Production Act) to allocate $700 million nationwide to coal projects, including $75 million specifically for the Oakland terminal. According to his announcement made on June 4th, this funding aims to accelerate the project, with hopes of breaking ground as soon as this summer. The Oakland coal terminal is located near the historically Black activist neighborhood of West Oakland, which already faces a high pollution burden from the port and highways. This coal project has faced delays, lawsuits, and local opposition for a decade since 2016, when Oakland banned coal handling and storage citywide.\u00a0<\/p>\n The terminal is estimated to cost close to $400 million to build. The $75 million is less than a quarter of the total cost, which means that significant private investment is needed.\u00a0<\/p>\n Groups like No Coal in Oakland<\/a> and Keep Coal Out of the East Bay<\/a> are stepping up their fight against this news with community meetings, yard signs, and petitions to the Bay Area Air Quality Management District. The new Oakland Mayor Barbara Lee had been supportive of the coal ban.<\/p>\n *** Related Articles<\/p>\n Here is a list of articles selected by our Editorial Board that have gained significant interest from the public:<\/p>\n Vale plans up to $2.56 billion investment in decarbonization efforts Brazilian miner Vale<\/a> plans to invest up to 13 billion reais ($2.56 billion) in decarbonization initiatives to meet its voluntary emissions reduction targets and mitigate climate-related risks. Up to 4 billion reais would be allocated to decarbonizing operations, with 24% in the medium term and 76% in the long term. 8 billion reais would be directed toward building industrial complexes focused on low-carbon technologies. 1 billion reais would be allocated to research and development.\u00a0<\/p>\n Vale has already invested 9 billion reais in decarbonization initiatives from 2020 to 2025.\u00a0There\u2019s no specific timeframe for this new investment plan.\u00a0\u00a0<\/p>\n ***<\/p>\n Further reading: Brazil\u2019s Vale plans to invest $2.6 billion in decarbonization initiatives<\/a><\/p>\n Spain\u2019s renewables cut electricity bills and shield households from gas prices Spanish households are saving \u20ac10 a month on electricity bills thanks to wind turbines and solar panels installed in the last five years. Typical energy bills would be 19% more expensive if electricity costs were still as closely tied to gas prices as they were in 2021. Spain\u2019s strategic expansion of renewables since Russia\u2019s 2022 invasion of Ukraine has shielded households from recent fossil fuel price spikes linked to the war in Iran.\u00a0<\/p>\n The impact of gas on electricity prices in Spain fell sharply from 52% of hours in 2021 to 9% of hours in the first five months of 2026. In Italy, for instance, gas influences prices 75% of the time, and Italy has Europe\u2019s highest electricity prices. Wind and solar generated 33% of Spain\u2019s electricity in 2021, rising to 42% by 2025.\u00a0<\/p>\n In Germany, which also expanded renewables rapidly (wind and solar share from 28% to 45% over the last five years), consumer benefits have been more muted because they have displaced other forms of energy.\u00a0<\/p>\n ***<\/p>\n Further reading: Spanish households save \u20ac10 a month thanks to renewables expansion, report finds<\/a><\/p>\n
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\n![\"ESG](\"https:\/\/www.europesays.com\/europe\/wp-content\/uploads\/2026\/06\/616-Oakland-Coal-300x200.jpg\")
This coal project has faced delays, lawsuits, and local opposition for a decade since 2016, when Oakland banned coal handling and storage citywide. Photo Credit: Nikolay Kovalenko<\/a><\/p>\n
Further reading: Trump wants to put a $75m coal terminal in this liberal California city. Residents aren\u2019t having it<\/a><\/p>\n
\n![\"ESG](\"https:\/\/www.europesays.com\/europe\/wp-content\/uploads\/2026\/06\/616-Vale-Decarbonization-300x139.jpg\")
Vale has already invested 9 billion reais in decarbonization initiatives from 2020 to 2025. Photo Credit: Hector Brasil<\/a><\/p>\n
\n![\"ESG](\"https:\/\/www.europesays.com\/europe\/wp-content\/uploads\/2026\/06\/616-Spain-Renewable-Energy-300x225.jpg\")
Spanish households are saving \u20ac10 a month on electricity bills thanks to wind turbines and solar panels installed in the last five years. Photo Credit: John Cameron<\/a><\/p>\n