Press Release: Mobilising $100 billion per year by 2020 for climate actions in developing countries ‘challenging but feasible’, says Commission report

A Commission staff working document on "Scaling up international climate finance after 2012" confirms that raising USD 100 billion per year by 2020 will be challenging but it can be done, if the right balance is struck between public funding, funding raised from international carbon markets, as well as private funds, partly leveraged by development banks. Climate funding and development aid need to go hand-in-hand and it requires strong international coordination to ensure an efficient spending.