International Climate Finance (Communication)
Without financial support for developing countries, it is likely that no global climate agreement will be reached. The Commission presents criteria for how these payments should be distributed among developed countries. Further the Commission discusses whether the share of the EU should be financed through the EU budget, a common EU climate fund or using the budgets of Member States.
As it is not possible to finance the planned EU financial aids for developing countries through the EU budget, and an independent EU fund is ruled out for this purpose as it would create a lack of transparency, the Commission’s proposal of financing using the budgets of Member States is to be welcomed.