When it comes to helping poor nations cope with the effects of climate change, money is a central issue.
As the world’s largest climate finance donor, the European Union plays a pivotal role in shaping how the global community combats climate change. In 2014, the European Commission and the 28 European Union member states jointly provided 14.5 billion euros ($15.8 billion) worth of grants and loans for global climate action. Commitments from EU member states also make up almost two-thirds of all pledges so far signed by the United Nations Green Climate Fund.
So where does the bloc stand on the question of climate finance?
Over the past two weeks, Devex was on the ground at the COP21 summit in Paris to bring fresh and practical perspectives on what this conference means for global development. Here is what we know about Europe’s contributions to the global finance architecture.
Manola De Vos is a development analyst for Devex. Based in Manila, she contributes to the Development Insider and Money Matters newsletters. Prior to joining Devex, Manola worked in conflict analysis and political affairs for the United Nations, International Crisis Group and the European Union.
Subscribe to Devex Newswire
Top international development headlines emailed to you every day