The Regional Development Committee (REGI) of the European Parliament today voted for  the proposed Cohesion Policy report which will decide on how up to €336 billion of the EU Budget will be spent in a way that will build regions, provide transport solutions, renewable energy and structural reform. Commenting on the final vote Sébastian Godinot, Economist with the WWF European Policy Office, said, “We are pleased and relieved to see that the REGI Committee has voted against re-including fossil fuels into Cohesion Policy as some conservative MEPs wanted, and has backed relatively ambitious climate earmarking in the European Regional Development Fund, which will invest in a low carbon option for Europe’s economy.” “The Council has to see that the REGI Committee has gone further down the path to promoting a future sustainable European Economy, and must follow its lead.” “We are still worried that in the Cohesion Fund support for cogeneration systems, that produce both heat and power, will be subsidized thus further jeopardizing the carbon market. In opposition, Commission and Council rightly rejected it. This will have to be corrected in the next steps of the negotiation.” “This vote is not only important as Cohesion Policy expenditure is one of the few sources of funding for investment in large capital projects, it also demonstrates to third countries that we are serious about a low carbon future and that they too can follow this positive example.”