Combined European Union and member state financial contributions in 2015 to support developing countries in their efforts against climate change amounted to €17.6 billion, the Council of the EU indicated on Tuesday 25 October.
This sum is a significant increase on the €14.5 billion in 2014, the €9.5 billion in 2013 and the €9.6 billion in 2012. Announced before COP 22 (Marrakesh, 7-18 November), it gives an idea of the size of the future European contribution to the Green Climate Fund.
The sum of €17.6 billion was made up of public funding from member states’ budgets and public development institutions, and from the EU (€1.5 billion) and includes €2.2 billion from the European Investment Bank.
At the most recent meeting of the Ecofin Council on 11 October, the conclusions adopted by the ministers to complete the EU’s negotiating mandate for COP 22 did not mention any figure. NGOs felt that the EU’s commitment to scale up the mobilisation of public resources, so that it will take its fair share in the $100 billion per year by 2020 that the industrialised nations promised developing countries in 2009 to assist with their adaptation and mitigation efforts, was little more than window-dressing (see EUROPE 11643).
A fresh collective goal will be set by the international community as a whole before 2025, in line with the provisions of the Paris climate agreement. A recent OECD study indicates that the industrialised countries will reach the $100 billion target by 2020. (Original version in French by Aminata Niang)