EU countries approve green transition fund, look to challenges ahead

FILE PHOTO: A power-generating windmill turbine is pictured during sunset at a renewable energy park in Ecoust-Saint-Mein, France, September 6, 2020. REUTERS/Pascal Rossignol

BRUSSELS (Reuters) - European Union officials on Wednesday formally approved the bloc's multi billion euro fund that is to help wean countries off fossil fuels by shielding vulnerable communities from the economic impact of transforming polluting sectors.

As part of its plan to eliminate net greenhouse gas emissions by 2050, the EU has set aside part of its budget and COVID-19 recovery fund to support those most affected by plans targeting industries relying on or producing fossil fuels.