One-fifth of EU budget earmarked for tackling climate change

Article by Philippa Jones

Environmental policy and climate change action will be "mainstreamed" into all areas of the EU budget from 2014, the European Commission announced late on Wednesday night, with climate-related expenditure making up at least 20% of EU financing.

....Ben Caldecott, head of European policy at environmental investment management firm Climate Change Capital in London, told Environmental Finance that "fundamentally the idea of mainstreaming climate change and environmental policy is the right way forward." He also welcomed the Commission's "emphasis on catalysing private sector investment" and its "proposal for better coordination of R&D spending in the clean-tech sector" to bring the EU up to speed with the US, Japan and China.

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One-fifth of EU budget earmarked for tackling climate change