Supporting the European Commission's ambition to mitigate global warming and climate change
The European Union has committed to ambitious climate and energy targets. To support these goals, the European Commission has allocated 20% of the EU budget track climate action, as part of a greater ambition to mitigate global warming and climate change.
One of the main contributors to tracking climate action is the European Regional Development Fund (ERDF) and the Cohesion Fund. Together these funds have already delivered €52.5 bn in EU budget investment in climate action the 2014-2020 period. To monitor climate action and the supporting major investments across the EU, the European Structural and Investment Funds set up an interactive tracking tool. This tool provides an overview of the financial contribution of EU budget to climate actions and its development over recent years. The EU countries supply information on the support for climate change objectives, the ERDF then assigns a specific "climate weighting" to the financial support to visualise the contribution to climate change mitigation and adaptation goals.
Curious to learn more? Have a look at the financial tracking tool.