While developed countries have pledged to collectively provide $100 billion per year by 2020 and until 2025 to help developing countries in the fight against climate change (mitigation and adaptation), the current financial contributions of the European Union and its Member States remain too low in view of this target, according to a report published on 18 January by the ACT Alliance EU, a network of 13 European humanitarian and development agencies.
Recognising that the 100 billion target is collective and that there is no agreed method for calculating the “equal share” that each developed country committed to the target should mobilise, the authors of the report nevertheless estimate that the consolidated amount of the combined financial contributions of the EU and its Member States (including the UK) should amount to “around one third of the 100 billion” (based on two different calculation methods).
However, according to the latest data provided by the EU Council, this amount was €23.2 billion in 2019, or approximately $27 billion (see EUROPE 12593/31).
“In addition, this €23 billion includes large amounts of loans”, underlines ACT Alliance EU.
According to the organisation, the contributions of the EU and its Member States amounted to €11.6 billion.
Finally, the report also highlights significant divergences between Member States in their contributions, not only in terms of amounts, but also in the proportions of grants and loans.
See the report: https://bit.ly/38VyMVS (Original version in French by Damien Genicot)