EU votes to boost climate action in developing countries

27th March 2019


Web eu istock 178874821 1

Related Topics

Related tags

  • Central government ,
  • sea ice loss ,
  • Fossil fuels ,
  • EU ,
  • Global

Author

Edward Warner

The European Parliament has today voted to spend almost half its financial support for developing countries on environmental challenges between 2021 and 2027.

MEPs agreed a spending target of 45% for climate objectives and environmental protection – significantly more than the 25% originally proposed by the European Commission.

And 30% of this will go specifically to mitigating and adapting to climate change, with the parliamentarians also in agreement that the rest of the budget will not be used to fund fossil fuels.

This will contribute heavily to the EU's international commitment to mobilise ‚Ǩ100bn (£0.85bn) every year for developing countries from 2020 under the Paris Agreement.

“The 45% for climate and environment will also support economic modernisation, job creation and improved quality of the environment,“ Climate Action Network (CAN) Europe policy coordinator, Rachel Simon, said.

“Combined with the decision to exclude fossil fuels from support, this is the perfect recipe to allow developing countries to leapfrog straight up the chain of fossil fuels to renewable energy and energy-efficient solutions.“

Today's vote was regarding the Neighbourhood, Development and International Cooperation Instrument (NDICI), which sets out external investments in developing countries under the post-2020 EU budget.

The European Council has still not come to a decision on what the spending target should be, but CAN Europe said the latest vote “gives a strong boost“ to the argument for more climate ambition.

The same spending target, along with the obligation to exclude fossil fuel projects from the fund's financing, will govern the European Fund for Sustainable Development Plus.

Meanwhile, member states such as France and Slovenia are calling for a 50% climate and environment target in their negotiations on external action.

“Maintaining an ambitious climate and environment spending target of 45% will be a litmus test of the EU's climate leadership on the international scene,“ Simon continued.

“The decision to exclude fossil fuels also sends a strong signal to the European Investment Bank, which would be a recipient of funds, and which is currently consulting on its energy lending policy.“

Image credit: iStock

Subscribe

Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.


Transform articles

How much is too much?

While there is no silver bullet for tackling climate change and social injustice, there is one controversial solution: the abolition of the super-rich. Chris Seekings explains more

4th April 2024

Read more

One of the world’s most influential management thinkers, Andrew Winston sees many reasons for hope as pessimism looms large in sustainability. Huw Morris reports

4th April 2024

Read more

Alex Veitch from the British Chambers of Commerce and IEMA’s Ben Goodwin discuss with Chris Seekings how to unlock the potential of UK businesses

4th April 2024

Read more

Regulatory gaps between the EU and UK are beginning to appear, warns Neil Howe in this edition’s environmental legislation round-up

4th April 2024

Read more

Five of the latest books on the environment and sustainability

3rd April 2024

Read more

Ben Goodwin reflects on policy, practice and advocacy over the past year

2nd April 2024

Read more

In 2020, IEMA and the Institute and Faculty of Actuaries (IFoA) jointly wrote and published A User Guide to Climate-Related Financial Disclosures. This has now been updated to include three key developments in the field.

2nd April 2024

Read more

Hello and welcome to another edition of Transform. I hope that you’ve had a good and productive few months so far.

28th March 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close