In 2018, the EU maintained its position as the largest public donor in support of developing countries’ climate action with €21.7 billion. This figure is included in the draft conclusions to be submitted to EU Finance Ministers on Friday 8 November to complement the EU negotiating mandate for COP25 (Madrid, 2-13 December).
Ministers of Finance are therefore expected to confirm the continued commitment of the EU and its Member States to work towards increasing the public and private resources to be mobilised to contribute their fair share of the collective effort required, at international level, to support developing countries’ efforts to adapt to climate change and mitigate (reduce greenhouse gas emissions).
Developed countries have pledged to mobilise $100 billion per year for this purpose by 2020 and through 2025 under the Paris Climate Agreement.
Of the €21.7 billion, €2.65 billion came from the EU budget and the European Development Fund and €2.97 billion from the EIB.
The language of the text of the conclusions still needs to be fine-tuned by the national ambassadors to the EU on Wednesday 6 November. The conclusions, once adopted by the ECOFIN Council, will complement the negotiating mandate adopted on 4 October by the Environment Council (see EUROPE 12342/1). (Original version in French by Aminata Niang)