According to an audit carried out by the European Court of Auditors (ECA), the EU may not meet its 2030 energy and climate targets.

According to the report released on June 26 by the European Court of Auditors (ECA), there is little evidence that the EU’s ambitious targets will translate into sufficient action. Furthermore, there are no indications that there will be adequate funding available to achieve the 2030 targets. The ECA report also points out that the National Energy and Climate Plans (NECPs), currently under review until June 30, do not contain information on investment needs and funding sources to assess whether they are a solid basis for achieving the 2030 targets.

The European Commission has set itself the target of allocating 30% of its budget to climate action for the period 2021-2027, which amounts to around 87 billion euros per year. However, this amount is 10% less than the total investment estimated to be necessary, which means that the rest of the investment will have to come from national and private funds.