• Home
  • News
  • In-depth
  • Opinion
  • Energy
    • Wind
    • Marine
    • Solar
    • Biomass
    • Nuclear
    • CCS
    • Infrastructure
  • Policy
    • Politics
    • Legislation
    • Taxation
  • Management
    • Marketing
    • Risk
    • Skills
    • Incentives
    • Carbon Accounting
  • Technology
    • Waste
    • Recycling
    • R&D
    • Efficiency
    • IT
  • Investment
    • Carbon Trading
    • Offsets
    • Venture Capital
  • Net Zero Now
  • Events & Awards
  • SDG Hub
  • Industry Voice
  • Newsletters
  • Sign in
  •  
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
    • You are currently accessing BusinessGreen via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0) 1858 438800

      Email: [email protected]

      • Sign in
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
    • Facebook
    • YouTube
    • Instagram
  • Free Trial
  • Subscribe
  • Events & Awards
    • Upcoming events
      event logo
      NZF Pathway - Finance

      This exclusive half day online event will investigate how all businesses can support and accelerate the transition to low and net zero carbon buildings, while maximising the financial and productivity opportunities that will result.

      • Date: 16 Mar 2021
      • Online Event
      event logo
      Net Zero Festival 2021

      Net Zero Festival is the world's first business festival dedicated to exploring, advancing, and celebrating the global transition to a net zero emission economy. Join us at BusinessGreen's Net Zero Festival – for leaders who won't wait until 2050 to build a better business, and a better world.

      • Date: 27 Sep 2021
      • Worldwide
      View all events
  • SDG Hub
Business Green
Business Green
  • Home
  • News
  • In-depth
  • Opinion
  • Energy
  • Policy
  • Management
  • Technology
  • Investment
  • Net Zero Now
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
  • You are currently accessing BusinessGreen via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0) 1858 438800

    Email: [email protected]

    • Sign in
  • Hot topics
  • Green recovery
  • Net Zero Now
  • Net Zero Leadership
  • Net Zero Finance
Bg bnp hub ribbon
  • Politics

Business groups and NGOs call for 'climate proof' 1.5C EU budget

Business groups and NGOs call for 'climate proof' 1.5C EU budget
  • Michael Holder and James Murray
  • 10 October 2018
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
0 Comments

Business groups and NGOs call for 'climate proof' EU budget that aligns with Paris Agreement, as Council backs review of how to build 'net zero' emission economy

Nearly 100 business groups and NGOs have today called on EU ministers to align the EU budget with the Paris Agreement and UN Sustainable Development Goals (SDGs) in a bid to boost spending on clean energy, low emission transport, environmental protection, and sustainable farming.

The open letter, signed by 98 organisations and sent today to EU ministers of European and Foreign Affairs, comes just a day after the Environment Ministers on the European Council of member states met to discuss the bloc's response to the stark warning's contained in this week's IPCC report.

Related articles

  • Drax launches green skills drive to 'boost social mobility for one million people'
  • Aegon commits to net zero across its default pension funds by 2050
  • Smart home energy market the focus of new consumer protection drive
  • BBC Director-General broadcasts new net zero ambitions

The letter calls for a sharp increase in climate action funding in the future EU budget, and urges the bloc to exclude spending on fossil fuel infrastructure and "environmentally harmful" subsidies from its budget.

Following the IPCC's 1.5C report on Monday, the letter argues more money should be invested in renewables, clean transport, ecosystem protection, and sustainable farming. It adds that stronger safeguards are needed to ensure climate compatibility across all of the European Union's funding programmes.

The letter comes ahead of the next round of talks over the future EU budget in Brussels next week, at which ministers are due to discuss EU Commission proposals for a long-term budget of €1.1tr from 2021 to 2027, equivalent to 1.11 per cent of the EU27's gross national income. 

Coordinated by Climate Action Network (CAN) Europe, signatories to the letter include the Prince of Wales's Corporate Leaders Group, the European Trade Union Confederation (ETUC), the European Association for Electromobility, and think tank E3G.

Wendel Trio, director of CAN Europe, said the sooner and more invested by the EU in the clean energy transition, the bigger the benefits for society and business. "40 per cent of the future EU budget needs to benefit zero-carbon projects and not one cent should go to fossil fuels, gas included," he said. "This is the only way European public finance can help the world keep temperature rise to 1.5C by the middle of this century."

The letter was published just hours after the European Council's committee of environment ministers concluded their latest round of talks with fresh calls for renewed effort to meet the goals of the Paris Agreement.

The conclusions from the meeting expressed "deep concern" at the IPCC's findings about the climate impacts that will result at 1.5C of warming and above. The committee said the report "demonstrates clearly vulnerabilities, impacts and risks of further global warming to human societies and natural systems, including the attainment of sustainable development and of the Sustainable Development Goals (SDGs)".

The committee's conclusions highlighted the EU's efforts to date to cut greenhouse gas emissions, but contained no new policy proposals.

It did, however, reiterate the Council's support for a recent move to request that the European Commission develop a "Strategy for long-term EU GHG emissions reduction", in line with the Paris Agreement and which includes proposals for building a net zero emission economy consitsent with keeping warming below 1.5C.

Separately, the committee also called for the development of a new international "strategic plan for biodiversity beyond 2020", which could provide an overarching biodiversity framework across the UN. "This framework should place biodiversity and ecosystem services high on political agendas," the group said, adding that it would like to see a high-level biodiversity summit at the level of Heads of State/Heads of Government in 2020 "to strengthen the political visibility of biodiversity and its vital contribution to the 2030 agenda for sustainable development".

However, while the Council's response to the latest IPCC warnings fell short of policy specific, today's letter calls for a raft of new moves to help accelerate emisisons reduction efforts.

Specifically, it urges EU ministers to increase the bloc's climate action target to make up at least 40 per cent of the whole EU budget, and to ensure the budget is "climate proof", meaning no further spending on projects which are not in line with the Paris Agreement.

As well as halting spending on unabated fossil fuels infrastructure and subsidies, it calls for the exclusion criteria on fossil fuels in the EU's Cohesion Fund programme to be extended to all fossil fuel investment and to apply these across all programmes.

Moreover, all planning and preparation of EU programmes and projects should include "energy efficiency first" as a mandatory assessment tool, it adds, while the performance and results of climate action initiatives should be assessed in line with recommendations of the European Court of Auditors to avoid overestimation of their effectiveness.

All EU financial flows and fiscal incentives should be aligned with the Paris Agreement, while National Energy and Climate Plans should on the other hand be aligned with the EU budget's financing strategies, the letter states.

Finally, the EU should also provide support for a low carbon transition in high-carbon regions of Europe, and the budget should "incentivise climate action through higher budget allocation and better financial conditions".

"The recently published IPCC 1.5C report shows that we have the scientific understanding, the technological capacity and the money to avoid the worst impacts of climate change," the letter states. "The only barrier is one of political will, which you and your colleagues can change."

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Politics
  • European Commission
  • European Union
  • budget
  • IPCC
  • SDGs
  • SDG Hub

More on Politics

Keir Starmer's comments came at a meeting with a host of environmental groups yesterday
    • Politics
Keir Starmer: Climate action must be 'at the heart' of Covid-19 recovery
    • Politics
    • 13 January 2021
Global wildlife populations have fallen nearly 70 per cent in 50 years | Credit: Danielle Barnes
    • Biodiversity
UK joins 50 nations in pledge to protect 30 per cent of land and oceans by 2030
    • Biodiversity
    • 12 January 2021
    • Biodiversity
Boris Johnson: 'Tackling climate change must be part of overall agenda to protect the natural world'
    • Biodiversity
    • 12 January 2021
    • Politics
Honouring the Paris Agreement Goals: A way forward
    • Politics
    • 12 January 2021
    • Policy
Alok Sharma takes on COP26 Presidency full-time
    • Policy
    • 08 January 2021
Credit: Koala Kollectiv
    • Politics
COP26: Five key questions for a crucial year of global climate diplomacy
    • Politics
    • 08 January 2021
The Boy Who Cried Wolf: Redux
    • Editor's Blog
    • 07 January 2021
The Trump White House era of environmental defiling is almost over
    • Policy
Could Democrat's Georgia victory and Trump's disgrace trigger the 'Decade of the Green New Deal'?
    • Policy
    • 07 January 2021

More news

Drax launches green skills drive to 'boost social mobility for one million people'
  • Skills
Drax launches green skills drive to 'boost social mobility for one million people'

Energy firm joins Social Mobility Pledge led by former education secretary Justine Greening in bid to help plug green skills gap and support disadvantaged communities

  • 15 January 2021
Aegon commits to net zero across its default pension funds by 2050
  • Investment
Aegon commits to net zero across its default pension funds by 2050

The pension provider is also aiming to slash the carbon emissions in its default pension funds in half by 2030, covering around £10bn of assets

  • 15 January 2021
Smart home energy market the focus of new consumer protection drive
  • Energy
Smart home energy market the focus of new consumer protection drive

Citizens Advice teams up with energy industry groups to try and identify any gaps in consumer protections for burgeoning flexible home energy market

  • 15 January 2021
BBC Director-General broadcasts new net zero ambitions
  • Management
BBC Director-General broadcasts new net zero ambitions

Tim Davie confirms corporation will set net zero by 2030 target as he calls on organisation to 'dial up the focus on sustainability'

  • 14 January 2021
blog comments powered by Disqus
Back to Top

Most read

Terra Carta: Prince of Wales launches green recovery charter for business
Terra Carta: Prince of Wales launches green recovery charter for business
Unilever and Alibaba launch 'world first' AI-powered closed-loop recycling system
Unilever and Alibaba launch 'world first' AI-powered closed-loop recycling system
'Environmentally regressive': UK government approves use of bee-harming pesticide banned in EU
'Environmentally regressive': UK government approves use of bee-harming pesticide banned in EU
10 green business trends to watch out for in 2021
10 green business trends to watch out for in 2021
Alok Sharma takes on COP26 Presidency full-time
Alok Sharma takes on COP26 Presidency full-time
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters
  • Facebook
  • YouTube
  • Instagram

Incisive Footer Logo

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading