In a statement published on Tuesday 17 October, the NGO coalition CAN Europe expressed significant concerns about the EU’s climate finance commitments agreed at the Economic and Financial Affairs Council meeting (see EUROPE 13273/16 ). In particular, a lack of ambition and clarity on the part of the EU with regard to climate financing prior to COP28 has been raised.
So, despite the commitment to the Loss and Damage Fund and the emphasis on adaptation funding, the lack of practical details and tangible action plans leaves room for uncertainty, according to the organisations.
Rachel Simon, coordinator of CAN Europe, stressed in the press release the need for the EU to present a detailed and fair plan for increasing climate funding, meeting the $100 billion pledge and developing strategies for eliminating fossil fuel subsidies. Without concrete measures, there is a risk that these commitments will be perceived as insufficient and in “bad faith”.
Ms Simon also stressed the importance of listening to climate-vulnerable countries and civil society, and urged the EU to assume a “leadership” role in achieving global climate objectives. The organisation is calling for greater transparency and accountability in the EU’s climate finance pledges, which are considered essential for affected communities worldwide. (Original version in French by Nithya Paquiry)