The EU contributed €31.7 billion in climate finance from public sources, plus an additional €11.0 billion of private finance to help support developing countries in reducing their greenhouse gas emissions and adapting to the impacts of climate change.
The EU Council has published the figures in preparation for the United Nations Climate Change Conference of the Parties (COP30 & CMA 7), which will take place from 10 to 21 November in Belém, Brazil. The figures are based on the EU climate finance reporting rules laid down in the governance regulation.
Since 2013, Europe has more than doubled the funds it has raised to help developing countries mitigate and adapt to the impact of climate change.
The EU and its member states raised:
- €9.6 billion in 2013
- €14.5 billion in 2014
- €17.6 billion in 2015
- €20.2 billion in 2016
- €20.4 billion in 2017
- €21.7 billion in 2018
- €23.2 billion in 2019
- €23.4 billion in 2020
- €23 billion in 2021
- €28.5 billion in 2022*
- €28.6 billion in 2023*
- 7 billion in 2024*
The sources for the figures include the EU budget, the European Development Fund and the European Investment Bank.
* Since 2022, the overall public finance figure has been calculated using a new methodology, based on commitments for bilateral finance and disbursements of multilateral finance made in the same year.
According to Commission data, half of the public climate funding for developing countries has been directed to climate adaptation or to cross-cutting action (involving both climate change mitigation and adaptation initiatives). Grant based finance represents a significant share (close to 50%) in the EU and Member States public contribution.
The €31.7 billion in climate finance from public budgets comprises €4.6 billion from the EU budget, including the European Development Fund, and €2.4 billion from the European Investment Bank. The overall public figure is calculated based on commitments for bilateral and disbursements of multilateral finance reported for calendar year 2024.
The €11.0 billion figure regards the private financial support mobilised through public interventions (e.g., guarantees, syndicated loans, direct investment in companies, credit lines, etc.). It does not include any amounts of the public finance utilised for the mobilisation of this private financial support.
Council conclusions on climate finance in view of COP30
Council conclusions on climate finance in view of COP30, including the figure for 2024
