Report

Climbing together: Is the Social Climate Fund working for those who need it most?

The European Union’s commitment to cut greenhouse gas emissions by at least 55 per cent by 2030 and reach climate neutrality by 2050 is driving a far-reaching transformation across all sectors – most notably in energy. A key element of the EU’s Fit for 55 package is the forthcoming extension of the EU Emissions Trading System (ETS2) to cover buildings and road transport.

To cushion the social and economic impacts of this transition – particularly for vulnerable households and transport users – the EU has established the Social Climate Fund. Financed through revenues from ETS2, the fund is expected to mobilise at least EUR 86.7 billion in public investment between 2026 and 2032.

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We expose the risks of international public finance and bring critical updates from the ground. We believe that the billions of public money should work for people and the environment.

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Beyond fossil fuels

Coal is an outdated industry on its last leg. Public finance can move our economies in a new, socially responsible direction.

Rights, democracy, development

Public money must not become an auxiliary for human rights violations or the marginalisation of affected communities.

Finance and biodiversity

A clash is raging between nature and finance. Our work where finance meets the natural world advocates for adequate protection and restoration projects to ensure a green future for all.

Energy transformation

We work to ensure that EU financial flows address the climate crisis and do no harm to people and nature. We do this by involving the public in the design and spending of EU investments.

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City residents should have a say in how this money is spent in their cities. Their voices can help make their cities more resilient in the face of climate challenges.