Contributions from the EU and its member states to support developing countries in reducing their greenhouse gas emissions and coping with the impacts of climate change showed a significant increase in 2016.
Brussels, Oct 17, 2017.- The total was confirmed on 16 October 2017 at a meeting of the EU Economic Policy Committee, ahead of a UN climate change conference in Bonn.
Total contributions from the EU and its member states amounted to €20.2billionin 2016, a significant increase compared to 2015. The contributions were successfully channelled into climate change mitigation and adaptation initiatives in developing countries.
The contribution is seen as an important step towards the implementation of the legally binding climate change agreement reached in Paris in December 2015.
The latest figure demonstrates the EU’s determination to continue scaling up its international climate finance contribution towards the $100 billion per year goal set for developed countries by 2020 and through until 2025. Before 2025, the parties to the UN framework convention on climate change will set a new collective goal. Contributions for mitigation and adaptation will be jointly mobilised from a wide variety of sources: public and private, bilateral and multilateral, including alternative sources of finance and with transparency of implementation.