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EU plans to massively increase spending on climate change

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The European Commission has put forward its future budgetary plans, which include spending a quarter of its entire finances on tackling climate change.
Under the new proposals, covering the period between 2021 and 2027, a total of €320 billion will be spent on climate adaptation and mitigation, an increase of €114 billion.
The European Commission’s President, Jean-Claude Juncker, said the plan was “an important moment for our Union. The new budget is an opportunity to shape our future as a new, ambitious Union of 27 bound together by solidarity.” 
Under the current budget, €206 billion is already being spent out to 2020 on combating climate change through investments in energy efficiency, renewable energy, environmental protection, and other carbon reduction schemes. This represents 20 percent (...)

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