Policy & Regulation

EU pledges more funding for energy and climate

Brussels has proposed allocating more EU funding to climate and energy projects between 2021 and 2027 Brussels has proposed allocating more EU funding to climate and energy projects between 2021 and 2027.
By Andreas Walstad 4 May 2018 0 30726
A debate in the European Commission on the EU budget A debate in the European Commission on the EU budget. (EC)

The European Commission’s proposed EU budget for 2021-2027 has a stronger emphasis on climate than before, while funding for gas infrastructure seems likely to continue. 

Under the proposal outlined this week, 25% of the €1.28 trillion ($1.53 trillion) budget – the so-called Multiannual Financial Framework – will go to climate-related projects, up from 20% in the current 2014-2020 period. 

The announcement was broadly welcomed by environmental groups, as it could see around €320 billion – adjusted for inflation – allocated to climate action during the funding period. 

Moreover,...