Heads of state and government will meet on February 20, aiming to reach an agreement on the size and purpose of the next EU budget. The outcome should tell whether Europe is able to finance its transition to carbon neutrality.
In line with the EU Green Deal the European Commission has promised that more money than ever before will be allocated to climate action, including a special fund to support a just and fair transition for carbon-intense regions and sectors.
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The Commission wants to increase climate funding from 20% to 25% of the overall budget. This means from €206bn for the previous years to €320bn. The European Parliament has proposed an increase to 30%.
Once governments reach a common position, they will launch three-way negotiations with the Commission and Parliament before a compromise is agreed by the end of the year.
In a letter sent this week, the European Environmental Bureau (EEB) is urging EU governments to:
- Allocate at least 40% of the overall budget to climate and nature;
- Stop funding environmentally harmful activities, including new gas infrastructure and intensive farming. Funds should be used to boost clean energy as well as responsible business and farming practices.
- Provide details on how funding requests will contribute to the objectives of the EU Green Deal (e.g. through the ‘Partnership Agreements’);Improve governance and monitoring of how EU funds are spent and their impact.
Patrick ten Brink, EEB EU Policy Director, commented on the occasion:
This is one of Europe’s very last chances to reverse the climate crisis. EU governments have a moral and political obligation to ensure a credible and ambitious climate budget
This week’s meeting comes a month after the European Commission announced an investment plan that would help raise €100bn for European regions and industries to move beyond fossil fuels. According to the plan, the Commission proposed the development of a Just Transition Fund, which would bring in €7.5bn of extra money from national contributions.
