Instead of channeling money for green companies through EU member nations with all their targets and milestones, a new EU equity fund is to send money flowing directly to the relevant companies, says the EU Commissioner for Competition, Margrethe Vestager, in an interview with Danish business daily Børsen.

”What we need is swift investment decisions, and that they are passed with an eye towards keeping investments in Europe. That is why I propose this equity fund where we commit directly to the companies and preferably in the more risky aspects in order to lure in private capital,” says Vestager.

European Commission President Ursula von der Leyen earlier this year launched the idea of a new sovereignty fund to aid countries in their green industry investments.

The Commission is expected to draft up a concrete proposal for the fund within a few months. The big question remains, however, how the EU plans to finance the fund.