EU 2020 budget boosts climate action spending

(Climate Change News, 19 Nov 2019) Parliament and members states have agreed to allocate 21% of next year’s budget to measures to address climate change.

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The EU Parliament and member states have agreed a deal on the bloc’s 2020 budget, which boosts spending for climate action.

The budget is the last annual spending plan of the EU’s seven-year budget, running the start of 2014 to the end of 2020.

The EU has committed to finance projects worth €168.7 billion ($186.8bn), of which 21% will go to measures to address climate change. The bloc had a target to dedicate at least 20% of its expenditure to climate protection in the period 2014-2020.

The parliament’s five largest political groupings reached a consensus late on Monday night following “intense discussions” taking place in “a positive spirit,” said budget committee chair Jan Van Overtveldt.

Between 2019 and 2020, climate-related spending on innovation, research and infrastructure will be increased by almost €900 million ($997m), with a €1.1bn ($1.2bn) increase for the Horizon 2020 research programme, Van Overtveldt added.

Additional funds have also been allocated to the EU’s Life programme – the union’s funding mechanism for environment and climate protection – and the European Environment Agency, which is expected to recruit six new staff members to work on climate issues.

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Climate Change News, 19 Nov 2019: EU 2020 budget boosts climate action spending