Commission proposes climate bailout - but fails to put its euros where its mouth is

Greenpeace welcomes today's proposal by the European Commission to give financial aid for climate protection in developing countries and to support new measures to help reduce global greenhouse gas emissions. However, Greenpeace regrets that the Commission backtracked at the last minute and weakened its proposal by removing any mention of specific amounts of financial aid. Today's Commission proposal outlines the EU's position ahead of international climate talks in Copenhagen in December this year.

"The Commission has come up with a decent blueprint, but has shown it is unable to put its euros where its mouth is and support credible amounts of aid to prevent a global climate catastrophe. It is now up to EU environment and finance ministers to improve this proposal back it up with financial commitments that will help prevent serious economic and social disasters caused by climate change," said Joris den Blanken, Greenpeace EU climate and energy policy director.

The Commission has called on industrialised nations to provide financial aid to support clean energy, forest protection and climate adaptation in poorer countries. The proposal says the funds will be raised by taxing emissions, where polluting industries and developed nations pay for their carbon emissions.

Greenpeace calls on rich industrialised countries to back up their climate pledge with at least EUR 110 billion annually, and for the EU alone to commit EUR 25 billion (on top of existing development assistance). Funding from industrialised countries to developing countries should be broken up as follows:

- EUR 40 billion (annually by 2020) to support the development of clean energy;
- EUR 30 billion (annually by 2020) to reduce deforestation and its effects on local communities;
- EUR 40 billion (annually by 2020) to help communities in the developing world adapt to the effects of climate change.

"Recessions come and go, but we cannot bail out climate change once it's too late. Unless the EU and other industrialised nations now put forward serious money to help developing countries, the economic and social effects of climate change will be catastrophic and irreversible, worldwide," said den Blanken.

Greenpeace also calls on the EU to increase its emission reduction target to 40% by 2020, compared to 1990 levels, with at least 30% reductions taking place within the EU, and a commitment to support 10% additional reductions in the developing world. The existing unilateral EU commitment to cut emissions by 20% is not a sufficient contribution to keep global warming below the dangerous threshold of +2°C - a mark which the EU recognises must not be exceeded.

"Flooding, droughts and destructive storms are no longer distant threats for Europeans. We are running out of time and drastic actions are needed now to prevent an irreversible global climate catastrophe," said den Blanken.

Greenpeace European Unit is based in Brussels, where we monitor and analyse the work of the institutions of the European Union (EU), expose deficient EU policies and laws, and challenge decision-makers to implement progressive solutions.