The European Commission has announced a proposed budget of 200 billion euros for the period 2028-2034, aiming for 30% of expenditure to be devoted to climate and environmental concerns. A new Global Europe instrument is set to support partner countries in adopting credible climate action strategies and boost demand in clean industrial sectors.
This financing, part of the Global Gateway strategy, aims to invest in climate adaptation and resilience projects, supporting the creation of climate-focused business models, particularly in less developed countries and small island developing states.
The European Commission highlights that a substantial portion of the clean technology value chain is highly concentrated in certain areas, most notably China, and many regions lack access to the necessary clean technology production. This initiative seeks to counter this through mutually beneficial partnerships.
The plan also proposes to strengthen the EU’s clean technology manufacturing capacity, targeting 15% of the global technology market while improving European industrial competitiveness.
In 2024, the Commission reports that 1 trillion euros were invested in fossil fuel-based energy compared to 2 trillion euros in clean energy, representing a two-to-one ratio in favor of clean energy.
Clean energy investments have surged by 78% since 2015, when 1.4 trillion euros were invested in fossil fuels and 1.1 trillion euros in clean energy.
The EU’s share in clean energy investments was 19%, equivalent to 334 billion euros, reflecting a total increase of 111% since 2015.
The EU has effectively demonstrated that its decarbonization model serves as a growth framework, cutting greenhouse gas emissions by 37% from 1990 to 2023, while the bloc’s economy grew by 68% over the same period.
Currently, the EU accounts for only 6% of global greenhouse gas emissions, while G20 members are responsible for 80% of global emissions.
