Council publishes 2024 international climate finance figures 14:00 The Council today decided on its position for negotiations with the European Parliament regarding the[...]

In 2024, the European Union and its 27 member states contributed €31.7 billion in climate finance from public sources and mobilised an additional amount of €11.0 billion of private finance to support developing countries to reduce their greenhouse gas emissions and adapt to the impacts of climate change.

The Council published the figures today, 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.

According to data compiled by the European Commission, 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 EU actively seeks to extend the range and impact of sources and financial instruments and to mobilise more private finance, as major tools to support international climate action, while responding to the forward-looking approach as embedded in the decision on the New Collective Quantified Goal, adopted in 2024 by the Parties to the Paris Agreement. This way, the EU will continue to support developing countries to implement the 2015 Paris climate change agreement.

The 2024 figures represent a strong confirmation of the EU, and its member states resolve for delivering on their international climate finance commitments, particularly towards the developed countries' collective goal of mobilising $100 billion per year. This goal remains applicable up to and including 2025.

Background

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.

EU member states reported data on the 2024 climate finance pursuant to article 19.3 of regulation (EU) 2018/1999 of the European Parliament and of the Council of 11 December 2018 ('governance regulation') and article 6 and annexes III-V of Commission implementing regulation 2020/1208.

• Council conclusions on climate finance in view of COP30
• Council conclusions on climate finance in view of COP30, including the figure for 2024
• Financing the climate transition (background information)
• Governance regulation
• COP30 website