An analysis of the Climate Finance Reporting of the European Union

Description

This study is commissioned by ACT Alliance EU in order to establish an overview of climate finance provided by EU institutions and EU Member States to developing countries. The report encompasses financial flows from the European Commission (EC), the European Development Fund (EDF), the European Investment Bank (EIB) and individual EU Member States.

Biennial reports from EU institutions to the UNFCCC include climate finance from the EC, the EDF and the EIB. Each October, the EU’s total climate finance figure is published after a meeting in the Economic and Financial Affairs Council (ECOFIN), which determines total climate finance from the EU and its Member States through the EU’s Monitoring Mechanism Regulation (MMR) reporting in September each year. Total climate finance from EU institutions and EU Member States increased significantly from EUR 9.5 billion in 2013 to EUR 20.2 billion in 2016. The largest share of this came from individual Member States, which delivered EUR 15.5 billion in 2016. Of the remaining part, EUR 2.7 billion was taken from the EU budget and the EDF, while EUR 1.9 billion was provided by the EIB.

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