The EU regulation establishing the social climate fund - an €86.7 billion social assistance package spearheaded by Maltese MEP David Casa intended to help businesses and households from the effects of climate transition - has been formally concluded with a signing ceremony by top EU representatives.

A ceremony was held in Strasbourg,  overseen by Casa as lead negotiator.

The final text was endorsed by European Parliament President Roberta Metsola and Swedish Foreign Minister Jessika Roswall, representing the Presidency of the European Council.

The regulation will now be published in the Official Journal of the European Union, bringing to a close a process which included almost 18 months of negotiations.

“The social climate fund, from which Maltese citizens are set to benefit from a mobilisation of €60 million, will start operating in 2026,” Casa said.

“It represents a total investment of up to €86.7 billion across the European Union to the benefit of households and small businesses.

“Investments in energy efficiency will lead to lower emissions, and more savings in the long run for citizens.  As the social safety valve of the fit-for-55 package, the social climate fund is the most significant social milestone in the climate transition," he said.

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