A report presented this week at the European Parliament has reopened the debate on how to match climate planned actions with budget resources in the Union. The Centre for European Policy Studies (CEPS) proposed to review the budget allocation for the Common Agricultural Policy, designed fifty years ago, to move 1% of the current EU budget towards climate policy and use this funding to leverage further financial actions from governments, the European Investment Bank and privates. This report echoes the findings of another recently released report by Green Alliance, a UK-based think tank, which stressed the role of budget financing to attract further funding towards low-carbon technologies.

These reports can be found at:

• www.ceps.be (For a Future Sustainable, Competitive and Greener EU Budget: Integrating the Climate Change Objectives);
• www.green-alliance.org.uk (Unlocking a low-carbon Europe).

Climate Policy News

• This news is extracted from the Climate Policy News : a CMCC weekly column that summarises the latest news on international climate change agreements, the updates on the carbon market and the energy and technology updates in the realm of climate change. Go to the web page and see all previous issues since March 2007.
• This week: Green finance reform needed; EC sets no guidelines for biomass; China intensity target bindng; Oceania news; The carbon market this week – Download the February 22-28, 2010 Newsletter [Pdf 38 Kb]