EUROPE + GREEN – Climate Transition and Resource Sustainability

Thematic agenda "3. Climate transition and resource sustainability" of the Portugal 2030 Strategy is aligned with the European Union's "Greener Europe" strategic objective, which aims to monitor the climate emergency and advance the realization of decarbonization goals by supporting innovation and the circular economy while benefiting sustainable production methods.

In this context, the Portugal 2030 Strategy includes 5 Strategic Areas of Action:

Decarbonize society and promote the energy transition
Promote the economy circular
Reduce risks and recover environmental assets

Sustainable agriculture and forests
Sustainable maritime economy

Decarbonization

Decarbonization options include not only renewable hydrogen, but also other renewable gases and other renewable and sustainable alternative fuels. Energy-related renovation work on existing buildings throughout the nation and the decarbonization of energy consumption, namely through promoting the use of electricity, is seen as a fundamental measure for the fulfillment of national energy and climate goals.

Energy Transition

The target for the share of renewable energy by 2030 implies the massive implementation of new energy production capacity from renewable sources, such as offshore wind energy, energy production through concentrating solar power and geothermal energy, and ocean energy production. As regards mobility and transport, Portugal has been shifting its policies toward achieving a 40% reduction in emissions, compared to 2005, and the incorporation of a 20% share of renewable energy, contributing significantly to reducing energy consumption. The fulfillment of this objective is based on continuous investment in transportation infrastructures aimed at strengthening sustainable multimodal mobility in functional urban areas, modernization and reinforcement of the associated rolling stock, as well as actions that promote the use of collective, active and "soft" forms of transportation.

Circular Economy

When it comes to the circular economy, waste management remains a challenge in Portugal. In the Commission's early warning report (2018), Portugal was identified as one of the countries at risk of not reaching the EU target of recycling 50% of its municipal waste by 2020. In fact, in 2020 Portugal still had low values of preparation for reuse and recycling (39%), and as a result of the recent change in the methodology for calculating the indicator, the rate of preparation for reuse and recycling now has an even lower value (18%). Capital investment needs for the country as a whole to reach the EU recycling targets are estimated at €994 M for the period 2021-35.

Reduce risks and recover environmental assets

As regards climate change adaptation, risk prevention, and disaster resilience, Portugal has identified three main objectives: (i) Improve the level of knowledge about climate change, (ii) implement adaptation measures, and (iii) promote adaptation in sectoral policies. The vulnerabilities of the territory to coastal erosion, floods, droughts and rural fires continue to be recurring challenges in Portugal that are worsened by climate change. This reality requires policies in line with the protection of the coast, the management of water resources, adaptation to climate change, combating desertification, and preventing and fighting rural fires.

Sustainable agriculture and forests

With regard to the protection and conservation of nature and biodiversity, the Portugal 2030 Strategy is aligned with European and national policies to improve the Fundamental Network for Nature Conservation, which corresponds to around 30% of mainland Portugal, and also integrates ecological connectivity corridors between the areas comprising this network, both for local integration and to enhance the regional ecological structure.

Maritime economy

As it concerns the maritime economy, the strategy aims to reconcile the three aspects of sustainability: economic, social, and environmental. This requires management of fishing activity in line with ecosystem-based approaches, mitigating the degradation of the marine environment. The challenge facing Portugal, given the aging of the fleet and the inherent high energy consumption and GHG emissions, is to modernize 25% of the active fishing fleet and promote the sector's resilience with a view to reducing imports of fish and increasing exports and ensuring food security.

How can we help your company?

Grant Application Registration

During the Grant Application Registration*, which allows you to proceed with the investment projects to be submitted to PT2030 without calls for proposals being open.
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Financing

With financing lines intended for the anticipation of funds to be allocated by PT2030 and with complementary financing to the allocated funds.
Collaboration

In collaboration with Deloitte, providing you with specialist advice regarding European Funds.

Information

Banco Bilbao Vizcaya Argentaria - Branch in Portugal (BBVA) has signed a Collaboration Agreement with Deloitte Business Consulting (Deloitte) under which services can be provided to its clients within the scope of the European Funds: preparation of information, training, and technical simulation of projects. However, Deloitte's obligation to provide additional services, namely support in the preparation of applications for available funds, is conditional on full satisfaction and fulfillment of the client and project acceptance procedures it has defined. The formalization of any financing transaction is subject to prior analysis and approval by BBVA.

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16.6 billion euros to boost Portugal's recovery

The European Union has decided to strengthen the budget to boost Europe's economic and social recovery and growth. These funds are made available in Portugal via the RRP.

BBVA helps you to calculate the potential stimulus your company may receive.

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