European Commission Makes European Green Deal A Top Priority
17 Oct, 2019

The proposed European Green Deal aims to increase climate ambition, create a climate law and strengthen financial support to spur climate action across Europe. The EU budget, complemented by the proposed creation of a ‘Just Transition Fund’, can play a significant role in speeding up the transition away from oil, gas and coal and in promoting climate-compatible investments at national and regional level.

In light of the climate crisis and the mass demonstrations against governments’ failure to tackle it, the EU budget has a great potential to steer the next generation of EU funds from 2021 to 2027 towards climate neutrality: support the transition to zero-carbon economies, particularly in the EU’s lesser developed and more polluted regions, and end subsidising carbon-intensive infrastructure as it is still happening today.

This requires a much stronger focus on climate action in the overall budget spending, and allowing Cohesion Policy funds to play their part in the decarbonisation of central and eastern Europe in particular.