According to the European Court, the European Union (EU) has failed to meet its climate change spending target under the pre-2020 budget plan.
The report says: “In 2021, the Commission reported that it had met the target, having spent €216 billion on climate-related measures.”
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The report states that “the Commission overestimated climate spending by at least €72 billion, of which more than 80% came from agricultural finance”.
“This means that around 13% of the 2014-2020 EU budget was dedicated to climate action”, he pointed out.
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The European Court said that “the methodology used to account for climate expenditure should take into account all relevant financing for climate action”, while adding that “it should use reliable estimates based on proven contributions to the objectives climatic”.
The auditors stressed that it should not involve “heavy administrative burdens”.
“Where reported figures are based on planned or committed amounts, they are inflated by unspent or undisbursed funds,” the auditors said.
The auditors also claimed that the Commission had overestimated its “green” spending on agriculture by €60 billion.
(With agency contributions)
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