A week ahead of the United Nations Conference of the Parties on Climate Change (COP28) in Dubai, the Council of the European Union, on Thursday 23 November, approved the figures for the amounts to be mobilised by the EU in 2022 for international funding to combat climate change.
Last year, the EU made a substantial contribution of €28.5 billion from public sources – more than double that of 2013 – and mobilised a further €11.9 billion in private funding. These funds aim to support developing countries in their efforts to reduce greenhouse gas emissions and adapt to the impacts of climate change.
According to data from the European Commission, more than half of this public funding (54%) is earmarked for climate adaptation or initiatives combining mitigation and adaptation.
In addition, almost half of the total amount (around 49%) is awarded in the form of grants. These figures reflect the EU’s commitment to global climate action, in line with the EU’s climate finance reporting rules set out in the Governance Regulation.
The progression of the EU contribution (infographic): https://aeur.eu/f/9pz (Original version in French by Nithya Paquiry)