While the economy, global food security crisis and European energy crisis are the main priorities of the latest European Commission budget, sustainable agriculture also has a prominent place.
Brussels has asked the European Union’s 27 member states to agree to a €186 billion budget, of which almost €54 billion will fund the new Common Agricultural Policy (CAP). The new CAP will also receive slightly more than €1 billion from the European Maritime Fisheries and Aquaculture Fund.
According to a statement from the commission, a relevant part of the CAP funds will be used to strengthen the resilience of agri-food and fisheries at a very challenging moment, characterized by expected global food supply shortages. Crisis management and sustainable agriculture will be the main focus of strengthening this resilience.
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Significant funds in the new budget also will be dedicated to combating climate change, ,in line with the target to spend 30 percent of the long-term budget and the Next Generation EU recovery instrument on this policy priority.”
The EU draft budget also includes an estimated €114 billion in grants under the Next Generation EU umbrella.
,Next Generation EU helps the EU recover from the immediate economic and social damage caused by the coronavirus pandemic and enables us to respond to current and future crises such as the war in Ukraine,” the commission wrote. ,The temporary instrument helps build a post-Covid-19 EU that is greener, more digital, more resilient and better fit for the current and forthcoming challenges.”
Slightly more than €46 billion of the 2023 budget will go to regional development and cohesion projects, which also comprise infrastructure for the green transition. The EU will also invest €14 billion in supporting its global partners in a series of development programs and humanitarian aid.
With nearly €14 billion, the European Union will continue financing research and innovation projects within the Horizon Europe program, including projects focused on bio-economy, food, natural resources, agriculture and the environment.
The program’s goals are to reduce environmental degradation, reverse the decline of Europe’s biodiversity and more efficiently manage natural resources.
Another €5 billion of the proposed budget will go toward European strategic investments, including green and digital transition and strategic research and technology.
Slightly more than €2 billion will go to the environment and climate action, including €728 million for the LIFE Resilience program, the research initiative focused on climate change mitigation and adaptation.
Other parts of the budget will go to space research, EU border protection, migration-spending support, defence, support for the correct development of the single market and health. A new project will also be funded to improve EU satellite link security.
While presenting the new budget, which will have to be approved by the EU member states, Brussels has also hinted at the possibility that further funds might be needed to respond to the critical consequences of the Russian invasion of Ukraine.