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The European Union agrees on increased commitment to sustainable development

07.08.2020  08:57

The European Union (EU) has finalised its 2021-2027 budget. The budget includes a post-COVID19 recovery package with a 10% increased commitment, from currently 20% to 20% of its total budget, to climate change mitigation efforts. 

The budget agreement also stipulates that no new investments, funded by the EU budget, may be made on activities that could be damaging to the environment. This implies that the remaining 70% of the budget cannot be invested in black energy such as coal or oil. 

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