Environment & Energy Report

Tens of Billions in EU Climate Investment Funds Remain Unspent

April 2, 2019, 6:41 PM

More than five years into the seven-year budget cycle, EU member states still haven’t allocated tens of billions of euros in investment funds earmarked for climate action that were made available to state and local agencies.

The current European Cohesion Policy budget cycle includes 161.9 billion euros ($181.2 billion) for investment projects in three thematic areas: low-carbon economy, climate change adaption and risk prevention, and environmental protection and resources efficiency.

As of last month, only 51.7 billion euros had been spent, and 62.9 billion euros hadn’t even been committed to specific projects or initiatives, according to a report published...

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