Commission must apply spending rules to EU recovery funds before greenlighting national plans
The European Commission has released its first assessments of how Member States plan to spend from EUR 672 billion Recovery and Resilience Facility, and Bankwatch urges the Commission to ensure that commitments for spending on climate and biodiversity protection are met before the plans are approved.
17 June 2021
A Bankwatch analysis of the draft spending plans in eight countries of central and eastern Europe finds significant gaps between what Member States propose and what the Commission requires. In particular, states miss the 37 per cent threshold for total spending in favour of a green transition and to prove that investments will ‘do no significant harm’. These national plans also make use of loopholes to include funding for fossil gas, while allocating paltry sums to address Europe’s worsening biodiversity crisis. Christophe Jost, EU policy officer with CEE Bankwatch Network, said, “This is not a box ticking exercise. If the plans are not in line with EU rules on climate and biodiversity, then the Commission must send Member States back to the drawing board. We cannot fail to prepare for a green and just transition.” Dan Thomson, biodiversity policy officer with CEE Bankwatch Network, said, “The ‘do no significant harm’ principle is supposed to be a rigorous and effective tool to ensure investments do not harm climate or nature. Yet, in many cases Member States have failed to properly apply this principle, opening the door for approving harmful measures that will severely impede the achievement of the EU’s climate and biodiversity objectives.” For more information contact: Christophe Jost, EU policy officer, CEE Bankwatch Network Email: email@example.com Daniel Thomson, EU Policy Officer for Biodiversity, CEE Bankwatch Network Email: firstname.lastname@example.org
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