Publication

This study focuses on the financial resources needed to fight global climate change and the implications for the EU budget. The authors estimate global financing requirements and determine the resources that will be needed to meet the EU's climate change objectives. They analyze the climate change spending of the EU budget, identify shortcomings and indicate possibilities for correcting them. They also assess the potential of the EU emission trading scheme to raise additional financial resources. Finally, the paper provides three case studies of national public expenditure related to climate change in Germany, the UK and the US.