EU overestimates impact of its climate spending, auditors say

The executive European Commission has pledged to spend 25% of the bloc's 2021-27 budget -- setting aside roughly 320 billion euros (288.45 billion pounds) at current prices -- to help the 27-nation EU become "climate neutral" by 2050."The anticipated contributions to climate-related spending, in particular from some agricultural schemes, are likely to be overstated," ECA member Joelle Elvinger told Reuters."Without a robust methodology, the estimated climate spending may not be reliable."