Climate change, the role of financing
Many in the EU consider gas to be one of the ‘solutions’ to the climate crisis and plan huge investments in gas infrastructure. But we disagree. Fossil gas is a false solution to dangerous climate change: fossil gas is a fuel with substantial CO2 and methane emissions, contributing to the climate problem and its catastrophic impacts.
In 2014-16 the EU provided up to €4bn in support to fossil fuels, most of which went to gas infrastructure. And the subsidies might keep coming.
The EU has committed multiple times to the phase out of fossil fuel subsidies.
Will the EU budget follow suit?
The European Commission has proposed to continue to subsidise more fossil fuels well into the next decade through the next long-term EU budget (Multiannual Financial Framework 2021-2027). And attempts by the European Commission to exclude fossil fuels from some EU funds are challenged by some Member States and by some EU Parliamentarians.
The plans and legislations are not final yet since the budget files are still under negotiations: now it’s time for the European Parliament and the EU governments to make the next EU budget fully climate-friendly and 100% free from fossil fuels!