Meet Romain Morel – Project Manager of our Finance, Investment and Climate division – who will briefly explain the main ideas behind climate finance.
In two minutes, you will come to understand what climate finance refers to, the widely-known annual goal of $100 billion by 2020 and the fundamental challenge in raising the trillions of dollars required for climate finance.
Commission President von der Leyen announced a €2 trillion EU budget fit “for a new era,” set to launch for a seven-year period in 2028. As EU-watchers in Brussels and beyond scrambled to digest the reams of legislative proposals that followed this headline-grabbing announcement, much in the detail should give pause – especially from the perspective of closing the EU’s climate investment deficit.
With the dust settling from COP29’s hard-fought negotiations on the New Collective Quantified Goal (NCQG), attention is shifting to how the climate finance goal will be met. The challenge is how to scale up financing for increasingly connected priorities in a challenging landscape of debt stress and cuts in official development assistance.