Brussels, 17/04/2012 (Agence Europe) - The proposed multi-annual financial framework 2014-2020 offers the EU a unique opportunity to speed up public and private investments required to make a resolute stance against climate change; however, the proposed financial resources are far from enough to seize this opportunity, warns IEEP (Institute for European Environmental Policy). In any event, this is the conclusion it reaches in a report published on Tuesday 17 April, which analyses the adequacy between the Commission's proposals for the future of the cohesion policy, the Connecting Europe Facility, the proposed budget 2014-2020 and the target of allocating at least 20% of the future budget (or some €200 billion over seven years) to climate-relevant activities.
“The Commission proposals contain a number of progressive elements, but the scale of resources identified seems to fall well short of the 20% commitment. The Council and the European Parliament need to keep the progressive elements but also improve substance otherwise this will be a serious missed opportunity to kick-start the EU's transition to a low-carbon economy”, stresses David Baldock, Executive Director of IEEP.
Among the progressive elements to be kept, the report lists the inclusion of climate concerns in all EU financing and new governance mechanisms proposed for this purpose, but it stresses the absence of a clear and coherent approach to establish the contribution of each financial instrument to the 20% expenditure commitment.
Following a preliminary evaluation, it criticises a significant finance deficit: the cohesion policy and the Connecting Europe Facility would provide only €30 billion for activities related to climate change, or just 15% of the €200 billion to which the Commission aspires.
IEEP also recommends improving the methodology proposed to ensure the traceability of expenditure related to climate change, because if traceability is the guarantor for the transparency of climate expenditure, it is only one option in the toolbox of mainstreaming climate concerns into all policies. IEEP takes the view that improving the quality and results of other EU expenditure also calls for solid performance indicators, safeguards and adequate institutional capacity to guarantee that the remaining 80% of the future budget will not work against the climate objectives.
This report received financial support from the Dutch Ministry of Infrastructure and the Environment. It can be seen online at
http://www.ieep.eu/assets/919/Walking_the_talk_options_for_EU_MFF_to_deliver_on_climate_change.pdf