Quarter of EU budget set aside for climate action

The European Commission plans to increase its climate change spending by 5% to €320bn between 2021 and 2027, with a quarter of the EU’s budget dedicated to climate action.

It said funding levels would need to be increased to support the proposals, but that savings could be made in regards to the Common Agricultural Policy following the UK’s departure from the bloc.

Commission president, Jean-Claude Junker, said: “The new budget is an opportunity to shape our future as a new, ambitious union of 27 bound together by solidarity.”