SUBSCRIBE
PROFILE

European Union: Towards an ecological sovereignty fund?

Marie Toussaint, candidate for the European Parliament, proposes a 100 billion euro ecological sovereignty fund to transform Europe's major oil companies.

Share:

Union européenne fond de souveraineté écologique

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90€/month

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99€/year

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Sign up for free to unlock this article

Marie Toussaint, Green candidate in the European elections, calls for a European ecological sovereignty fund. The objective? “Regain strategic control” of Europe’s most polluting oil companies. It was in front of the TotalEnergies tower in La Défense that the European candidate chose to launch this proposal, on the day of the company’s centenary. A moment chosen for its symbolism, the headquarters being protected by the forces of law and order.

Introducing the Ecological Fund

Marie Toussaint, surrounded by Marine Tondelier and other environmental activists, detailed her initiative after a happening against fossil fuels. It envisages the creation of a €100 billion ecological sovereignty fund, “managed by the European Investment Bank”. The objective? Acquire a majority stake in the six “most polluting” European oil and gas companies – specifically TotalEnergies, Eni, Repsol, OMV Petrom, Orlen, Wintershall Dea – to push them out of fossil fuels and stop “fossil fuel dividends”.

The climate emergency according to Toussaint

“Today, the European Union is trying to act on its own territory, but we have a global responsibility because we are a major economic power,” Toussaint stressed. She stressed the need to halt all new investment in oil and gas, in line with the recommendations of the International Energy Agency, pointing out that “these companies are undermining living conditions on Earth”.

To finance this fund, Toussaint proposes redirecting the 330 billion euros of fossil fuel subsidies in the EU, and envisages a wealth tax dedicated to the climate. “The European treaties allow for this fund when interpreted in the right direction,” she asserts, adding that the objectives include safeguarding the planet. Marine Tondelier reinforced this argument, anticipating that this measure will be seen as essential and sensible in the future.

  • Popular on energynews.pro
Billion Watts launches 2026 solar-storage project in Australia with six more planned
Turbo Energy secures 366MWh industrial battery contract in Spain
Spanish operators warn of saturation in national power grid
TotalEnergies confirms imminent investment decision for new LNG train in Texas
US crude oil stocks rise by 3.9 million barrels
New failure of the Nigerian power grid triggers widespread outages across the country
A sudden fault on the national grid cut electricity supply to several regions of Nigeria, reigniting concerns about the stability of the transmission system.
Guyana to tighten contractual framework for oil production
Re-elected president Irfaan Ali announces stricter production-sharing agreements to increase national economic returns.
Coal India launches 5 GW of solar and wind projects across the country
Coal India issues tenders to develop 5 GW of renewable capacity, split between solar and wind, as part of its long-term energy strategy.
US utilities plan 147 GW in new high-load capacity by 2035
US utilities anticipate a rapid increase in high-intensity loads, targeting 147 GW of new capacity by 2035, with a strategic shift toward deregulated markets.
France: RTE launches public debate on €100 billion for the power grid
France opens a national consultation on RTE’s plan to invest €100 billion by 2040 to modernise the high-voltage electricity transmission grid.
California speeds up permits to secure federal tax credits
Governor Gavin Newsom orders state agencies to fast-track clean energy projects to capture Inflation Reduction Act credits before deadlines expire.
German industry warns of €5.4tn energy burden by 2049
Germany’s energy transition could cost up to €5.4tn ($6.3tn) by 2049, according to the main industry organisation, raising concerns over national competitiveness.
Power cuts plunge Iranian businesses into lasting operational crisis
Facing blackouts imposed by the authorities, small businesses in Iran record mounting losses amid drought, fuel shortages and pressure on the national power grid.
T Plus to maintain electricity production at 57.6 TWh in 2025
Russian group T Plus plans to stabilise its electricity output at 57.6 TWh in 2025, despite a decline recorded in the first half of the year, according to Chief Executive Officer Pavel Snikkars.
French energy regulator corrects ten public claims on costs and production
In France, the Commission de régulation de l’énergie issues a clarification on ten statements shared over the summer, correcting several figures regarding tariffs, production and investments in the electricity sector.
Dozens of scientists denounce climate report deemed biased by US Department of Energy
A group of 85 researchers challenges the scientific validity of the climate report released by the US Department of Energy, citing partial methods and the absence of independent peer review.
Five new projects obtain CB RES status and join the Commission list
Five energy infrastructure projects have been added to the list of cross-border renewable projects, making them eligible for financial support under the CEF Energy programme.
Tanzania bets on compressed natural gas to cut oil imports
The Tanzanian government launches a national consultation to accelerate the rollout of compressed natural gas, mobilising public and private financing to secure energy supply and lower fuel costs.
Kuwait launches tenders for 1.8GW energy and water project
The Kuwaiti government has invited three international consortia to submit bids for the first phase of the Al Khairan project, combining power generation and desalination.
NNPC Ltd keeps Port Harcourt refinery and focuses on rehabilitation
Nigeria’s state-owned oil company abandons plans to sell the Port Harcourt refinery and confirms a maintenance programme despite high operating costs.
Political crisis in France: energy roadmap threatened by new delay
The publication of the Multiannual Energy Programme decree, awaited for two years, is compromised by internal political tensions, jeopardising strategic investments in nuclear and renewables.
EIA delays key reports after 30% staff reduction
The US Energy Information Administration reschedules or cancels several publications, affecting the availability of critical data for oil, gas and renewables markets.
Brazil dismantles criminal fuel network worth BRL52bn
Brazilian authorities have launched a large-scale operation targeting a money laundering system linked to the fuel sector, involving investment funds, fintechs, and more than 1,000 service stations across the country.
Natural gas and solar receive broad support across the United States
A national study by the Davies Group reveals widespread American support for the simultaneous development of both renewable and fossil energy sources, with strong approval for natural gas and solar energy.
Seoul Imposes 25% Cut in Petrochemical Capacity to Stabilize the Sector
The South Korean government compels ten petrochemical groups to cut up to 3.7 million tons of naphtha cracking per year, tying financial and tax support to swift and documented restructuring measures.

Log in to read this article

You'll also have access to a selection of our best content.