European Council Conclusions, 25-26 March 2010

Sectors : Climate change financing, Mitigation and low carbon growth
Organisation : EU
Date made: 
Heads Of State
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Commitments in: Climate Change - Climate change financing

“13. The EU is prepared to play its part in this process:

a) The EU and its Member States will implement their commitment to provide EUR 2.4 billion annually over the 2010-2012 period for fast-start financing, alongside contributions by other key players and in the framework of the implementation of the Copenhagen Accord. The swift implementation of this commitment will be crucial. To that end, the EU will initiate consultations on practical ways to implement fast start funding in specific areas. The EU and its Member States will present a preliminary state of play of their commitments at the May/June 2010 UNFCCC session and submit coordinated reports on implementation in Cancun and thereafter on an annual basis.

b) The EU and other developed countries have committed to jointly mobilise USD 100 billion per year by 2020 to help developing countries fight climate change. Financial contributions in the longer term need to be seen in the context of meaningful and transparent actions to be taken by developing countries to mitigate climate change as well as the overall balance of the global effort to tackle climate change.

c) The European Council remains firmly committed to the UNFCCC process. It supports ongoing efforts to make it more effective. Given the short time available before Cancun, this process could usefully be complemented and supported by discussions in other settings and on specific issues.

d) The EU will strengthen its outreach to third countries. It will do so by addressing climate change at all regional and bilateral meetings, including at summit level, as well as other fora such as the G20. The Presidency and the Commission will engage in active consultations with other partners and rapidly report back to the Council....”