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Climate spending under target, say auditors

Europe risks falling short on its commitments on climate change spending if finances in the area are not increased immediately, a report has warned.

The EU has a commitment to spend 20 per cent of its budget on climate-related activities by 2020, but so far spending has not reached the required rate of increase to meet this target, the report found. The European Court of Auditors, which compiled the report, found that the share of funds spent on activities to mitigate climate change hovered at around 17.6 per cent between 2014 and 2016.

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