Strasbourg: The European Union on Wednesday promised to increase financial support to help poor countries fight climate change and adapt to its impact, and ask the United States to rise.
“We will now propose an additional 4 billion euros for climate finance to 2027,” said European Commission President Ursula Von Der Leyen in a policy speech in the European Parliament in Strasbourg.
“But we hope our United States and our partners to rise too.
It is very important because it closes climate financing gaps together, the US and the European Union will be a strong signal for global climate leadership.” An additional 4 billion euros is the total amount for the period 2021-2027.
It will come from the EU budget, said commission spokesman.
The EU has contributed the annual $ 25 billion climate fund, said Von Der Leyen.
Climate Finance is expected to be a decisive problem in the UN COP26 Summit in November, where world leaders will try to agree on commitment to reduce emissions faster to prevent disaster climate change.
With seven weeks to go until COP26, money remains sick.
Rich countries have so far failed to deliver their 2009 promises to provide $ 100 billion per year in the field of climate for poor countries in 2020.
Without the support of rich countries, developing countries said they could not make large investments It is needed to wean their economy from fossil fuels and to clean energy or increase their infrastructure to overcome the effects of the climate.
Government officials in India – The fourth largest emitter in the world of greenhouse gases that warm up the planet after China, the United States, and the EU – have said further commitment to reduce carbon footprint their country will depend on funding from rich countries.
The United States promised in April to double the public climate finances for developing countries in 2024 compared to the average level during the Obama administration, even though experts and campaigners urged the world’s largest economy to do more.
Rich countries together contribute to almost $ 80 billion in 2018.
The European Union and its member countries, together, the largest funding provider, according to OECD.
Von Der Leyen said the EU would also doubled international funds to protect biodiversity, without determining the amount.