The European Commission proposes allocating 35% of the EU budget to climate and environmental objectives for the period 2028–2034

The European Commission proposes allocating 35% of the EU budget to climate and environmental objectives for the 2028–2034 period. In the current financial framework, the target is 30%, plus an additional 10% dedicated to biodiversity protection 🌱

According to information available to the Transport Innovation Association (TIA), Lithuania is considering advocating for an even lower share of funding for these objectives in the upcoming Multiannual Financial Framework. For this reason, TIA has addressed the Ministry of Finance and the Government, stressing that:

🔹 Climate and environmental investments directly strengthen Lithuania’s energy security and defence. They reduce Europe’s dependence on fossil fuel imports and contribute to greater geopolitical stability for the EU;
🔹 Sustainable investments attract private capital, enable the industry and transport sectors to transition toward climate neutrality, and boost competitiveness, innovation, and job creation;
🔹 Investments in reducing greenhouse gas emissions are more cost-effective than compensating for climate damage. According to the European Commission, climate-related damages could cost Lithuania up to 6% of its GDP by 2100.

For these reasons, we have urged the Government of the Republic of Lithuania to support the European Commission’s proposed climate and environmental financing target and not to seek its reduction during negotiations on the future EU budget.