Financial consequences of the expiry of the ECSC Treaty and Research Fund for Coal and Steel: implementation of Protocol No 37

The European Parliament adopted by 602 votes to 47, with 11 abstentions, a legislative resolution on the draft Council decision laying down the measures necessary for the implementation of Protocol No 37 on the financial consequences of the expiry of the ECSC Treaty and on the Research Fund for Coal and Steel, annexed to the Treaty on European Union and to the Treaty on the Functioning of the European Union and repealing Decision No 2003/76/EC.

Parliament gave its consent to the draft decision of the Council.

This decision lays down the measures necessary for the implementation of Protocol No 37 on the financial consequences of the expiry of the ECSC Treaty and on the Research Fund for Coal and Steel, annexed to the Treaty on European Union and to the Treaty for the Functioning of the European Union. Its main elements are as follows:

Research funding

The Commission will manage the assets in such a manner as to keep an annual Research Fund for Coal and Steel (RFCS) allocation of up to EUR 120 million for the years 2027 to 2033 inclusive in order to finance research in the sectors related to the coal and steel industry. Any remaining unallocated assets shall be part of an allocation for the year 2034 equal to the market value of those assets at the moment of the transfer to the RFCS, taking into account market conditions.

The Commission is responsible for managing the financial operations of the ‘ECSC in liquidation’ and, on completion of the liquidation of the ECSC, of the ‘assets of the Research Fund for Coal and Steel’.

Research priorities

- Steel sector: activities will focus on sustainable and low-carbon steelmaking and finishing processes, creating advanced steel products, the circular economy, the development of skills, improving working conditions, and the use of digital technologies;

- Coal sector: research projects will focus on managing the just transition, including through the repurposing, of formerly operating coal mines or coal mines in the process of closure and related infrastructure, including the regions in which they are located.

Financial transparency

Each year a profit-and-loss account, balance sheet and financial report will be drawn up by the Commission. The European Parliament, the Council, and the Court of Auditors will exercise oversight of these operations.

Fund allocation

Net revenue from the investments and the cash amounts to be generated by selling part of the assets shall constitute revenue in the general budget of the Union.

The funding is allocated as follows: 72.8% for steel research; 27.2% for coal research.

The Commission may modify this allocation if necessary to fully utilise the assets in 2034. Funds not used at the end of a year will be carried over to the following year.