EU Climate Policy Developments

Climate Policy Endures Rough EU Budget Summit (Euractiv)

After nearly five days of negotiations, heads of state and government brokered a compromise on the EU’s next long-term €1.8 trillion mega-budget, which will include a €750 billion pandemic recovery fund. Significant compromises had to be made in order for all 27 leaders to agree on the deal, which ranged from hefty cuts to certain EU programs, increased rebates for net contributors, and a smaller proportion of grants under the recovery fund… European Commission President Ursula von der Leyen told a post-summit press conference that “Europe’s recovery will be green. The new budget will power the European Green Deal.” Important detail: the EU will borrow the €750 billion for the recovery fund on the capital markets, and senior EU officials say that a “carbon border adjustment mechanism” (CBAM) – is “the most politically and fiscally interesting” source of new revenue to repay the €750 billion. The new budget deal mentioned 2023 for its implementation. Editorial note: It is far from clear how a CBAM would be implemented… According to an earlier Euractiv story (Jan. 20): “French President Macron has championed proposals to impose a carbon tariff at Europe’s external border for countries that don’t sign up to the Paris Agreement.” Link to Content

Recent Global News

Get News & Events

Receive invitations to special events and a monthly USLNG news update.

By signing up you consent to receive emails and invitations from LNG Allies.