This is wonderful for the US! The more the EU diverts resources to global warming, the less competitive they become in the world market. And that helps the US. Via Bloomberg:
The European Union’s executive is poised to propose spending 25 percent of funds available in next EU multiannual budget on activities related to climate protection, making sure new economic and political challenges don’t weaken the bloc’s resolve to fight pollution.
The European Commission’s blueprint for the 2021-2027 budget, to be proposed on May 2, will boost the so-called climate mainstreaming from 20 percent in the current multiannual financial plan, according to a person with knowledge of the matter. The funds for reducing emissions and adapting to climate change will be earmarked under policies such as regional aid, transport, research and external relations, said the person, who asked not to be identified because talks on the draft budget are private.