Council conclusions on climate finance in view of the UNFCCC 27th Conference of the Parties (COP 27) in Sharm El-Sheikh on 6-18 November 2022

Summary:

Set of conclusions adopted by the Council of the European Union on 4 October 2022, focusing on climate finance in the context of the UNFCCC 27th Conference of the Parties (COP27).

Further information:

The European Union (EU) and its Member States are the world's largest contributor to international public climate finance, and since 2013 have more than d0ubled their contribution to climate finance to support developing countries. In these conclusions, the Council of the European Union underlines its commitment to deliver on climate finance.

The conclusions were adopted at a Council meeting held on 4 October 2022. On 28 October, the Member States amended the conclusions to commit €23.04 billion in climate finance from public sources to support developing countries to reduce their greenhouse gas (GHG) emissions and adapt to the impacts of climate change.

• Primary Source

News

EurActiv, 06/10/2022: Climate aid target ‘will be met in 2023’, EU finance ministers say https://www.euractiv.com/section/climate-environment/news/climate-aid-target-will-be-met-in-2023-eu-finance-ministers-say/

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Official

General Secretariat of the Council: Policies: Financing the climate transition https://www.consilium.europa.eu/en/policies/climate-finance/

European Commission: International climate finance https://climate.ec.europa.eu/eu-action/international-action-climate-change/international-climate-finance_en

Council of the European Union: Press Release, 04/10/2022: Climate finance: Council adopted conclusions ahead of COP27 https://www.consilium.europa.eu/en/press/press-releases/2022/10/04/climate-finance-council-adopted-conclusions-ahead-of-cop27/

Council of the European Union: Press Release, 28/10/2022: Council approves 2021 climate finance figure https://www.consilium.europa.eu/en/press/press-releases/2022/10/28/council-approves-2021-climate-finance-figure/

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