The European Union has stated that no additional funds will be available for the restoration of biodiversity, despite a recent deal reached by EU ministers to restore degraded habitats on the condition that “dedicated funding” is proposed.
Following the breakthrough, Virginijus Sinkevičius, the EU’s environment commissioner, expressed uncertainty about the provision of new funds to help governments meet their targets. Sinkevičius acknowledged that financing was an area that needed further examination, but he also stated that creating a new fund may not be possible.
The lack of funding is just one of the many political challenges facing nature restoration reforms, which have become a highly contentious issue in Brussels this year. The proposal has not only divided member states, but conservative lawmakers in the European parliament have launched a vigorous campaign against it, arguing that it jeopardizes food security and employment.
Any attempt to resolve differences through additional funding would put strain on the EU budget, which has already been depleted due to the Covid-19 pandemic, the energy crisis, and the war in Ukraine. In response to these challenges, the European Commission has presented proposals for additional contributions to cover high interest payments and support Ukrainian reconstruction and migration policies.
Sinkevičius stated that while he supports an increase in funds for biodiversity restoration, he recognizes the limitations of the current budget and believes that money can only be sourced from existing funds.
On Tuesday, environment ministers from the EU’s 27 member states reached a common position on the Nature Restoration Law, aiming to halt biodiversity loss. The agreement was only achieved after the inclusion of a clause that explores the possibility of securing “dedicated funding.” Exemptions for land required for renewable energy projects and military exercises were also added to the text.
Despite the amendments made to the law, Sweden, the Netherlands, Finland, Poland, and Italy have refused to support the targets. Austria and Belgium abstained from voting.
Italian Environment Minister Gilberto Pichetto Fratin emphasized the need for clarification and availability of resources before the regulation can be implemented.
During the meeting, Frans Timmermans, the EU’s climate commissioner, warned that the bloc could fail to meet its climate targets and lose its position as a climate policy leader if ecosystems remained damaged.
Under the proposal, member states are expected to develop national nature restoration plans addressing issues like pollinator loss and drained peatlands. However, the proposal must first be approved by parliament, where it faces the risk of rejection due to the heated political debate surrounding it.
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