The EU have agreed on a budget for 2020, a large portion of which will be set aside to address climate change and its effects on the environment.
The three EU institutions agreed on the EU’s budget for 2020. This will allow the EU to focus its resources on the priorities that matter to citizens: climate change, jobs, young people, security and solidarity in the EU. Next year’s budget will also prepare the transition to the next budgetary cycle as it will be the seventh and last one under the current 2014-2020 long-term budgetary cycle.
Günther H. Oettinger, European Commissioner for Budget and Human Resources, said: “The 2020 EU budget is about continuity – it is the last one under the current long-term budget and the last one that the Juncker Commission proposed and negotiated. It will channel resources to where the needs are. It will help create jobs, address climate change, and leverage investments all over Europe.
“It will invest in young people and in making Europe more secure. All of these priorities are also reflected in the Commission’s proposal for the long-term EU budget beyond 2020. We should now focus on a timely adoption of the next long-term budget so that we can provide certainty and stability for our beneficiaries and continue creating an EU added value for all.”
The 2020 EU budget is set at €168.69bn in commitments (money that can be agreed in contracts in a given year) and €153.57bn in payment credits (money that will be paid out). Some key features include:
- 21% of the overall budget will go to measures to address climate change. For example, the LIFE Programme for the Environment and Climate Change will receive €589.6m (+5.6% compared to 2019). Horizon 2020, which traditionally makes a substantial contribution to reaching climate targets, will get €13.46bn (+8.8% compared to 2019). The Connecting Europe Facility’s Energy strand – which invests in the large-scale deployment of renewable sources, in upgrading existing energy transmission infrastructure and developing new infrastructure – will receive €1.28bn (+35% compared to 2019). The Connecting Europe Facility’s Transport strand will be supported with €2.58bn.
- Close to half of the funds – €83.93bn in commitments (+4.1% compared to 2019) – will help making our economy more competitive. Of them, €58.65bn (+2.5% compared to 2019) will go to narrowing economic gaps in and between Member States, boosting growth, job creation and fostering convergence via the European Structural and Investment Funds (ESI Funds).
- The European global satellite navigation system Galileo will be supported with €1.2bn (+74.7% compared to 2019) to expand its worldwide market uptake to reach 1.2bn users by the end of 2020.
- €255m will provide incentives for European companies to work together to develop defence products and technology under the European Defence Industrial Development Programme.
- Young people will benefit through a number of programmes: €2.89bn will go to education through Erasmus+ (+3.6% compared to 2019). The European Solidarity Corps will create opportunities to volunteer or work in projects at home or abroad with €166.1 million (+15.9% compared to 2019).
- European farmers will benefit from €58.12bn.
- Security and migration management will continue to receive support. For example, €2.36bn will go to the Asylum, Migration and Integration Fund, the Internal Security Fund, and the agencies that work in this field (Europol, the European Border and Coast Guard Agency (Frontex), EASO, eu-LISA).