Europe Allocates €36 Billion to Combat Climate Change in Developing Countries | Business

Europe Allocates €36 Billion to Combat Climate Change in Developing Countries

06-11-2024 03:14 PM

Ammon News – The European Council in Brussels announced that the EU and its member states contributed €28.6 billion in public climate finance in 2023 and mobilized an additional € 7.2 billion in private funding to support developing countries in reducing greenhouse gas emissions and adapting to the effects of climate change.

These statistics, published by the European Council on its official website today, come as part of preparations for the EU’s participation in the 29th Conference of the Parties (COP29) on climate change, scheduled to begin in Baku on November 11.

According to data compiled by the European Commission, about half of the public climate finance was directed to developing countries, focusing on climate adaptation or comprehensive measures that include initiatives to mitigate and adapt to the impacts of climate change

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