Sounding the potential of a European budget "for the people and the climate"

The potential to invest European Union (EU) funding into projects that actually benefit the environment has already been recognised (pdf) during the decision making for the EU budget for 2007-2013. Since then, however, it has become evident that theory and practice can diverge significantly.

With this in mind, Bankwatchers in Bulgaria, the Czech Republic, Latvia and Poland have spent the last six months immersed in energy scenarios, efficiency potentials estimates, national and EU strategies, and have interviewed more than 50 government officials, industrial association representatives, academics and other experts in the field of public finance to find out how the next EU budget for the 2014-2020 period can effectively support a low-carbon economy with benefits for people and nature.

The research outcomes will be published in the coming weeks, but to give away some of the results already now: thermo-insulation of buildings, sustainable heat production, development of smart grids and efficient industrial technologies have been identified as top priorities for public funding in central and eastern Europe.

Today, Bankwatch invited experts from the new EU member states, and representatives from the European Commission, the European Parliament, the European Investment Bank and the European Bank for Reconstruction and Development to supply them with our experience from the ground to discuss how the future EU budget can help decrease the dependency on fossil fuels, ensure climate and environmental protection, boost green innovation and increase the quality of life.