Today, EU leaders gathered at a European summit on sustainable finance. They recognised the important role the EU budget should play in tackling climate change and boosting the clean energy transition.
European Commission President Juncker confirmed that the post-2020 EU budget would at least spend 20% on climate action.
French president Emmanuel Macron emphasised the necessity of EU financing being coherent with sustainability requirements. He called for a 40% spending target in the next EU budget for climate action and the ecological transition.
In reaction to the summit discussions, Markus Trilling, finance and subsidies policy coordinator at Climate Action Network (CAN) Europe, said: “Today the president of the European Commission, followed by the French president Emmanuel Macron, have acknowledged the EU budget’s climate action potential. We welcome the French president’s proposal to dedicate 40% to green investments and to put an end to fossil fuel subsidies.”
“The European Commission’s proposal on the next EU budget expected in May now must ensure words are put into action. The post-2020 EU budget must serve higher climate ambition and deliver on the objectives of the Paris Agreement”.
A new infographic summarises our main political asks to make the future EU budget fully climate-friendly.
Nicolas Derobert, CAN Europe Communications Coordinator, firstname.lastname@example.org, +32 483 62 18 88
Climate Action Network (CAN) Europe is Europe’s largest coalition working on climate and energy issues. With over 140 member organisations in more than 30 European countries – representing over 44 million citizens – CAN Europe works to prevent dangerous climate change and promote sustainable climate and energy policy in Europe.