The European Commission proposed on 5 June 2019 a budget worth €168.3 billion for the bloc in 2020, aimed at promoting a more competitive European economy and solidarity and security in the EU. This is the last budget under the 2014-2020 fiscal period and put climate change at the top of the agenda.
As much as 21% of the proposed budget will be devoted to climate change issues. So if EU member states accept the 21% figure, that will ensure that the EU reaches a 19.7% average spend on climate change policies over the current seven-year EU budget (out of the 20% target).
Importantly, this budget is based on the assumption that the UK will continue to participate in its implementation and financing as if it were a member state, even though the UK is scheduled to leave the EU after 31 October.
Out of the €168.3 billion in commitments, €83 billion will be allocated to boosting economic growth and supporting young people. Some €13.2 billion will be given to research and innovation under the programme Horizon 2020, a 6.4% increase on 2019.