MEPs have warned that the EU's next investment plan might not be agreed by the parliament and council before 2020, threatening the bloc's action tackling climate change.
In a resolution adopted yesterday, the MEPs highlighted an “urgent need“ for a “quantum leap“ in political and financial efforts to achieve the Paris Agreement's objectives.
However, they warned of a “clear risk“ that complex negotiations between the parliament and commission regarding the EU's Multiannual Financial Framework (MFF) for 2021 to 2027 might not be finalised in time.
This could result in funding for climate action programmes in 2021 being disrupted, negatively impacting citizens and businesses.
“MEPs rightly deem current EU budget proposals for climate action far from being satisfactory given the crisis we are facing,“ said Markus Trilling, finance and subsidies policy coordinator at Climate Action Network (CAN) Europe.
“The next EU budget has a great potential to get us there, only if it finally pulls the plug on fossil fuel financing and dedicates 40% to climate action in the next decade.“
The commission tabled legislative proposals for the next MMF in spring last year, and parliament has been able to negotiate with the council since adopting the plans last November.
Around 93% of the budget goes to citizens, regions, cities, farmers, researchers, students, NGOs and businesses. The current MMF covering 2014-2020 was adopted in December 2013.
Yesterday's resolution was passed by 426 votes against 163, with 67 MEP abstaining.
It asks the commission to clarify how political promises made in July by president-elect Ursula von der Leyen will financially impact the EU's next long-term budget.
This comes as EU leaders prepare to gather at the European Council next week to discuss the upcoming budget.
“A European green deal requires a future EU budget that addresses the climate crisis much more profoundly than the current one does,“ Trilling continued.
“There is no room for being frugal on climate action.“
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