And people wonder why Greece, Italy and Spain are in a mess.
By Sophie Yeo in Warsaw
20% of the EU’s budget will go towards fighting climate change, climate commissioner Connie Hedegaard announced in Warsaw today.
This equates to €180 billion on climate spending between 2014 and 2020, which will be used to reduce emissions domestically and help developing countries adapt to climate change—three times what was provided in the previous budget.
Much of this will be spent on domestic projects, helping with the development of climate-smart agriculture, energy efficiency and the transport sector.
But of course, much of this is just a PR statement (otherwise 20% of the rest of the EU budget has been cut. Where are those screams?). The money is probably relabeled: shifted from one category to another. Same spending, greener tint.
They even admit themselves, they are taking €15 billion away from overseas aid in order to soothe their anxiety about the weather 100 years from now. This will mean a lot to hungry people in Cambodia.
If I thought that €15 billion would have been efficiently used, this would be a real disaster:
Over the next seven years, €15 billion from the EU’s overseas development budget will be ringfenced for climate spending. This is separate from what is provided each year by individual member states. For instance, the UK will provide £3.87bn of international climate aid between 2011 and 2015.
See more at: RTCC
We have arrived at the glorious point in the big-government growth-curve where a politician can boast they are spending a fifth of their budget trying to stop storms and hold back the tide, and journalists say “OK”.
But hey, it’s only €30 billion a year.
UPDATE: Manicbeancounter reminds us that though this is a news story now, the 20% figure was announced in Feb 2013, and as I noted then, even discussed back as long ago as June 2011. Amazing how long a dumb idea can live. Manic had a look at details, and concluded it was rearranged labels and hype. A PR exercise, so they can claim a “win” at an event that achieved nothing much.