On Tuesday 8 October, the NGO coalition CAN Europe expressed its disappointment at the Ecofin Council’s conclusions on the European Union’s climate financing (see EUROPE 13499/23).
CAN Europe welcomes the recognition of international public funding to support vulnerable countries, but expresses concerns about the EU strategy. According to the organisation, the focus on domestic resources in developed countries detracts from the main objective of the New Collective Quantified Goal (NCQG): to transfer funds to developing countries. Emilia Runeberg, head of climate policy at CAN Europe, regrets the absence of any recommendation to increase the contributions of rich countries, leaving developing countries uncertain about future funding.
The network supports the EU’s determination to ensure that climate funds do not finance fossil fuels. However, it urges the EU to set an example by eliminating its own fossil fuel subsidies in order to boost its credibility on the international stage.
A few weeks ahead of COP29, to be held from 11 to 22 November in Baku (Azerbaijan), CAN Europe is calling on the EU to clarify its commitments and comply with the ‘polluter pays’ principle. (Original version in French by Nithya Paquiry)