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Applying a green lens -- Cornelius Rhein, EC

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This presentation was made by Cornelius Rhein, EC, at the Introductory Workshop on Green Budgeting Tools held at the OECD, Paris, on 29 April 2019

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Applying a green lens -- Cornelius Rhein, EC

  1. 1. Climate Action Climate mainstreaming in the EU: Multiannual Financial Framework 2021-2027 Paris Collaborative on Green Budgeting 0ECD, Paris 29 April 2019
  2. 2. Climate Action Investment needs for climate action Mitigation: • Delivery of EU’s 2030 climate and energy targets will require additional investment of 1800 bn € (178 bn € annually between 2021-2030) Adaptation: • Estimates range from anywhere between 35 bn € annually up to more than 500 bn € EU Budget could support approximately 5-7% of the total required investment levels for mitigation, most of the finance needed would have to stem from other public and private sources.
  3. 3. Climate Action Policy levers to mobilise investment • Budget as enabler and accelerator of the needed shift in investments; the EU climate and energy • EU financial sector legislation can also support: Sustainable Finance Action Plan: • Reorient capital flows towards sustainable investment • manage financial risks stemming from climate change, environmental degradation and social issues • foster transparency and long-termism in financial and economic activity. 3
  4. 4. Climate Action NEW STRUCTURE OF THE EU BUDGET Source: European Commission 30% 34% 15% 9% 3% 2% 7% EU Budget – Multiannual Financial Framework 2021-2027
  5. 5. Climate Action Increased climate action Communication 2 May 2018: More broadly, in line with the Paris Agreement and the commitment to the United Nations Sustainable Development Goals, the Commission proposes to set a more ambitious goal for climate mainstreaming across all EU programmes, with a target of 25% of EU expenditure contributing to climate objectives. Climate Action in the MFF 2021-2027
  6. 6. Climate Action All programmes to contribute, expected contributions for most relevant programmes 6 How to achieve the 25%
  7. 7. Climate Action 7  Maintain EU climate marker approach used in the 2014-2020 MFF  “Expenditure” is defined as the commitment appropriation - Continued use of 100%, 40% and 0% EU climate markers - Attention to administrative effort and simplicity - Improved consistency of the marking - Improved consistency at the operational level of assigning markers - Improved transparency of marking General approach to climate tracking for 2021-2027
  8. 8. Climate Action 8 Wide range of implementing procedures (e.g. centrally managed, shared management, financial instruments, programmable/bottom-up)  Markers are assigned at the most appropriate level depending on the specific design of each programme: Project, type of intervention, component of programme or whole programme.  Differentiated approach within some programmes, depending on the type of intervention or implementation mode (e.g. InvestEU, Horizon Europe) DG BUDG and CLIMA work with other service on guidance ensuring a consistent approach General approach to climate tracking for 2021-2027
  9. 9. Climate Action 9  The weightings in the Common Provisions Regulation (CPR) serve as the backbone and the basis for weighting the climate contributions in programmes under shared management (European Regional Fund, Cohesion Funds, Asylum and Migration Fund, and the European Social Fund)  For some programmes weigthings are defined in the programme Regulations (e.g. Article 87 CAP Regulation, Recital 4 CEF Regulation) General approach to climate tracking for 2021-2027
  10. 10. Climate Action 10  Commission consolidates climate commitment data for all programmes annually  Each programme presents in its Programme Statements the expected climate spending for each year and updates the data for previous years  Identification of expected commitments for the current year, and projection of commitments for the remaining years of the MFF.  Commission presents the consolidated climate spending data in the annual Draft Budget and in the Annual Management and Performance Report General approach to climate tracking for 2021-2027
  11. 11. Climate Action 11 Climate Proofing the MFF 2021-2027 Negotiating box Point 20: Paris agreement Reflecting the importance of tackling climate change in line with the Union’s commitments to implement the Paris Agreement and the United Nations Sustainable Development Goals, programmes and instruments should contribute to mainstream climate actions and to the achievement of an overall target of [at least] [25%] of the Union expenditures supporting climate objectives. As a general principle, all EU expenditure should be consistent with Paris Agreement objectives.
  12. 12. Climate Action 12 Addressing climate change in the development of infrastructure projects Adaptation to climate change Vulnerability and Risk Assessment and adaptation responses Mitigation of climate change Carbon-footprint methodology, CO2 Social cost in the Cost-Benefit Analysis Climate Proofing the MFF 2021-2027
  13. 13. Thank you! Visit DG Climate Action online: EUClimateAction EUClimateAction EUClimateAction EUClimateAction clima/