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Transcript
Investing in our future: A European budget for climate security Russell Marsh Head of Policy – Green Alliance Climate change: how much is stake? • EU role in rising prosperity and security • Climate change threatens both – Profound economic, social, security, and development implications – no region immune from economic impacts – will exacerbate inequalities within Europe Where is Europe on climate change? • Key progressive player globally • Growing urgency among EU leaders in 2005-07 • EU 2007 Spring Council (20, 20, 20) But… • Poor record in cutting actual EU emissions • No integration yet of either internal or external policy • A step change in delivery required Does the EU budget matter? • Stern principles for global policy framework: – carbon pricing; – technology; – and behaviour change. • Spending an element within all three. • Early public investment critical to an effective transition to a low carbon economy • EU action can deliver where national action cannot. 3 principles for future EU climate spending • Focus limited funds where they make the greatest impact. • Address the global and regional inequalities of climate change. • Set the standard for global action. To deliver within and beyond Europe. Impact of current EU budget • Cohesion and structural funds. • Common Agricultural Policy. • Research and development. • Contributes to increased EU emissions, and locks in EU countries to carbon intensive patterns of transport and economic activity. Five priorities for EU spending (1) • A new dedicated low-carbon fund for energy and transport infrastructure development, with climate proofing of all EU cohesion spending. • Finance first phase of carbon capture and storage plants. Five priorities for EU spending (2) • Increase R&D funding to bring breakthrough technologies to market. • Support development of low-carbon infrastructure in emerging economies through a sovereign investment fund. • Meets 50% of EU’s fair share of the cost of adaptation for the poorest countries. How should this be funded? • Reform of current budget (CAP & cohesion funds). or • Use of revenues from auctioning of power sector allowances in the third phase of the ETS post 2012. It’s a political choice. Conclusion • “Invest to save”. • Early reform will pay greatest dividends. • Can we afford to wait until 2013? • Public support: economic, social, environmental and political benefits of a budget focused on climate change.
