The EU position on climate finance for the Paris climate summit was adopted today by the EU Finance Ministers.
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Oxfam welcomes today’s orientation debate on the EU Emissions Trading System as some Member States spoke out in favor of the ETS being a more predictable source of funds for climate action in poor countries.
The 150 countries that have now publicly committed to carbon reduction pledges show that December’s UN climate summit in Paris could, at last, be built on international cooperation rather than competition.
Yesterday's vote on the European Parliament’s position vis-à-vis the COP21 was welcomed by Oxfam for highlighting the importance of climate finance for developing countries.
The whole world is experiencing global warming, and Africa is one of the most vulnerable continents, particularly in regions where food shortages are already a reality. Women farmers are hit hardest by these changes in climate.
In Cambodia, recurrent drought periods and floods have become a major concern and a big challenge for many farmers. With support from a local organization funded by Oxfam, Mrs. Sao Khea, a Cambodian farmer learned about how to overcome these challenges and minimize the risks caused by climate change.
South Africa has today tabled its climate action plan for Paris, committing to put a lid on rising emissions through to 2030. How low they are able to plateau will depend on international support meaning so climate finance will be key to unlock greater ambition, says Oxfam.
EU environment ministers again acknowledged the importance of financial support for climate action in poor and vulnerable countries in the Paris climate agreement, but they must invest in the Green Climate Fund, says Oxfam.