EU demonstrates commitment to developing countries by stepping up climate finance to €17.6 billion

On thew 25 October 2016, The European Commission welcomed the European Union's strong commitment to scale-up financing for climate action in developing countries, which showed a significant increase in 2015.

This demonstrates the EU's determination to contribute its fair share of the goal set by developed countries to provide USD100 billion in annual finance to developing countries from various sources by 2020. The recent Climate Finance Roadmap prepared by the donor community indicates that they are on track to meet the ambitious goal. A new collective goal will be set by 2025.

• Primary Source

Council of the European Union: Press Release, 25.10.16: Climate finance: EU and member states' contributions up to €17.6 billion in 2015 http://www.consilium.europa.eu/en/press/press-releases/2016/10/25-climate-change-finance/

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