The Interrelation between the European Green Deal and the Multiannual Financial Framework 2021–2027

Abstract

Sustainability and global warming pose a number of challenges for the European Union. The aim of this paper is to present the current issues and connections between the 2021–2027 Multiannual Financial Framework and the financing of climate neutrality in the European Union. The two main strategies related to this topic are the current long-term strategy of the European Commission called European Green Deal, and the recently published Just Transition Mechanism in the context of climate finance. The methodology of the study is document analysis showing what current strategic proposals of the European Union have to achieve climate neutrality by 2050, and with a quantitative method I also support the hypothesis that in addition to Brexit, sustainability funding has a decisive impact on the EU’s next budget.