On 3 September 2020 ACT Alliance EU published a new report on climate finance revealing that EU institutions are failing to meet their climate finance commitments. A policy shift is needed to ensure that developing countries receive the appropriate support to address the climate crisis.
The report assesses climate finance channeled from the European Investment Bank, European Development Fund, and the European Commission, to developing countries. It reveals the decline in climate adaptation and grant-based financial support for the most climate-vulnerable countries.
The report concludes that EU institutions have to improve before they adequately meet their commitments to the Paris Agreement.
ACT Alliance EU Representative Floris Faber comments:
“It is important that climate finance and other commitments made to the Paris Agreement are respected and fulfilled. We already know that climate change is a stark reality for poor and climate-vulnerable countries and communities around the world. To overcome the widespread suffering connected to climate impacts, adequate and appropriate financial support for the most vulnerable is essential.”
The report has been featured in an exclusive article today in the German paper Der Spiegel
Read the full report here
For further questions and information, please contact
Chief Advisor at DanChurchAid and finance spokesperson on climate finance in ACT Alliance EU.