Climate change mitigation and adaptation receives significant support from ESI Funds amounting to more than EUR 114 billion of which almost half – about EUR 56 billion – comes from the European Agricultural Fund for Rural Development (EAFRD). The European Regional Development Fund (ERDF) and the Cohesion Fund also have a significant contribution of about EUR 55 billion collectively. The ambitious political objective that climate change-related action will represent at least 20 % of the EU’s overall budget between 2014 and 2020 is strongly supported by the ESI Fund contribution. In fact, the allocated amounts cover 25 % of the overall ESI Fund budget.
By more than doubling the funds available to support the shift to a low-carbon economy – to EUR 45 billion for the 2014-2020 programming period – ESI Funds represent the largest allocation of the EU budget to be channelled into low-carbon investments. This includes in particular energy efficiency, renewable energy and sustainable urban mobility.
Further funding of EUR 24 billion is allocated to an energy-efficient, decarbonised transport sector – e.g. rail and multimodal transport – and about EUR 2 billion is allocated for large, smart energy infrastructure.