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Today, the European Commission published its proposal for the next EU Multiannual Financial Framework (MFF). The MFF will determine the architecture and the financial amounts of the EU’s budget for the next seven years (2021-2027).Oxfam’s Policy Advisor, Hanna Saarinen, said:“The proposal shows that the EU is abandoning its ambition to be the global leader in international development. The EU is more concerned with pushing its own agenda than delivering on its commitments to the sustainable development goals. Despite increasing the amount of funds allocated…

On the shape of the new 2015 climate agreement being negotiated this week, Tracy Carty, Oxfam Climate Change Policy Adviser, said:

The European Union’s suggestion today of global public financing worth €22-€50 billion per year for developing countries to tackle climate change falls short of what is needed.

The European Union is rumored to be preparing just a token handout for climate action in poor countries for the next three years, with no guarantee that this money is going to come on top of existing aid commitments.

Europe needs ambitious targets and concrete policies to cut emissions and tacke the climate crisis, said Oxfam at the occasion of EU heads of state and governments meeting for a European Union summit in Brussels today.

The European Commission risks betraying the Paris climate agreement by suggesting that Europe is doing enough to tackle runaway climate change, says Oxfam.

The revision of the EU’s Emission Trading Scheme (ETS) offers a unique opportunity to increase transparency and predictability of climate finance from the EU and its Member States by establishing a mechanism that automatically directs a portion of the ETS revenues as additional international climate finance. 

Hundreds of European cities, regions, businesses, youth and faith groups and civil society organisations are urging European leaders to take decisive action to respond to the climate emergency by profoundly altering the way we run our societies and economies to limit temperature rise to 1.5°C.

As the second to last negotiations before Copenhagen draw to a close in Bangkok, three big sticking points remain. These issues show a lack of willingness of the EU and other industrialised countries to find common ground with developing countries.

Oxfam welcomes the new European Commission proposals for advancing climate talks. However, while the EC has highlighted emissions reduction loopholes in the Copenhagen Accord, it has ignored major loopholes on climate finance.