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

  • 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.
  • Defenders, Delayers or Dinosaurs: where do EU political groups stand on climate change?

    Centre and conservative parties of the current European Parliament have failed to treat climate change with the urgency it demands, according to a new ranking published today by Climate Action Network (CAN) Europe. At the same time, national champions in these groups demonstrate that centre and conservative parties can play a positive role in climate policy-making and that climate action can become a cross-party priority in the upcoming European elections.
  • Submission to EIB's public consultation on its energy lending policy

    The European Investment Bank (EIB), the world’s largest multilateral lender and major provider of climate finance, is holding a public consultation on its energy lending policy which was last revised/adopted in 2013.
See All: Shifting Financial Flows