Eurosif position on the EU’s next Multiannual Financial Framework

As negotiations on the EU's next Multiannual Financial Framework (MFF) 2028–2034 progress, key decisions are being made on the future design of the EU budget and its contribution to Europe's competitiveness, resilience and sustainable transition. With an estimated annual transition investment gap of €750-800 billion, public resources alone will be insufficient. The ability of the next MFF to mobilise private capital alongside public investment will therefore be a critical determinant of its success.

This position paper sets out Eurosif's overarching recommendations for the MFF, reflecting the perspective of investors committed to financing Europe's sustainable transition. The paper focuses on how the EU budget can provide credible signals to investors, direct public resources towards strategic priorities and mobilise private capital at scale.

Key recommendations:

A stronger Performance Regulation is essential for effective and credible EU spending.
The climate and environmental horizontal spending target and the Do No Significant Harm (DNSH) principle should remain central pillars of the future MFF, helping ensure that public spending supports Europe's long-term competitiveness, resilience and transition objectives while providing clear signals to investors.

The European Competitiveness Fund should be designed as an effective investment catalyst.
The ECF should focus on addressing market failures, using public resources efficiently and crowding in private investment for strategic sectors and technologies, rather than operating primarily as a grant-distribution mechanism.

 

Read Eurosif's full position paper here.

In September 2026, Eurosif also responded to the European Commission's consultation on the application of the Do No Significant Harm (DNSH) principle in the MFF. Read the response here.