Climate Targets

Finance

 

'Public finance in Europe should catalyse the transition away from fossil fuels and towards 100% renewables and fully energy efficient economies'

 
In 2016, the EU and its Member States ratified the Paris Agreement, demonstrating their ambition to limit global temperature rise to 1.5°C. The Paris Agreement stipulates that financial flows need to be made “consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” The Paris Agreement requires major overhaul of not just climate and energy policies in the EU, but also financial policies and investments to ensure a shift in support away from fossil fuels and instead towards a renewable energy, energy efficiency and climate resilience. 

CAN Europe works to ensure public financial flows in Europe are shifted away from fossil fuels and towards renewable energy and energy efficiency. This entails ending fossil fuel subsidies, making sure that the EU budget catalyses the transition away from fossil fuels and that EU’s financing facilities, policy tools and development banks undergo ambitious reforms that lead the way in the transition of the EU economy away from fossil fuels.

banner eu budget2

EU Budget

FussilFuelSubsidies

Fossil Fuel Subsidies

Climate Development

Climate Finance & Sustainable Development



 Contact

 

Markus Trilling
Finance and Subsidies
Policy Coordinator
markus/at/caneurope.org
+32 2 894 4688

Nicolas

Nicolas Derobert
Communications Coordinator
Nicolas/at/caneurope.org
+32 2 894 4673

RACHEL2

Rachel Simon
Network Outreach Officer
rachel/at/caneurope.org

Latest publications

  • EU ministers must clear the way for zero-carbon societies

    MEDIA ADVISORY Today, EU ministers meeting at an Energy Council and a General Affairs Council will discuss respectively the priorities for the future energy infrastructure and for the future EU Cohesion Policy funding for climate action in the regions.According to the current state of play of negotiations, EU Member States, as they plan to continue investments in fossil gas, are falling short of what the Paris Agreement requires in terms of zero-carbon energy policies and climate action financing.
  • Size doesn’t matter. Quality should be central to EU budget

    An EU budget aligned to the goals of the Paris Agreement, the fulfilment of climate neutrality and the swift decarbonisation of the European economy is a win-win situation for both net payers and recipients to the EU budget, argue Markus Trilling and Raphaël Hanoteaux.
  • Letter to EU ministers on climate and environmental action in development funding

    Ahead of Foreign Affairs Council on 16 May, Climate Action Network (CAN) Europe, Oxfam EU, ACT Alliance EU, Conservation International and Wetlands International write to EU ministers to highlight how the Neighbourhood, Development and International Cooperation Instrument (NDICI) can support developing countries to scale up climate and environmental action and support biodiversity, fostering sustainable development.
See All: Shifting Financial Flows