A new CEPS report warns that a lukewarm integration of climate objectives into the new EU budget and the continuation of a rather uninspiring set of budgetary actions will only damage the image of the EU institutions and send the wrong signal to EU citizens and international partners. The result of deliberations within a CEPS Task Force, the report argues that the reform of the EU budget must take stock of pressing global concerns over the financial meltdown and the worldwide food crisis, in addition to directly addressing the prospect of climate change.