E.U. climate policy chief, Frans Timmermans has told the COP27 summit in Sharm El-Sheikh on Wednesday that the bloc and four member countries will provide over 1 billion euros for climate adaptation in Africa.
He added the four members are France, Germany, the Netherlands and Denmark and other countries can join.
The sum is a starting point, he said. Timmermans also said the EU will provide 60 million euros for loss and damage and will present ideas today on how to take loss and damage negotiations forward.
The European Union also said it plans to update its emissions-cutting target under the Paris climate accord, with the upgrade expected before next year’s United Nations summit.
Building on the outcomes and momentum of COP 26 in Glasgow last year, nations were expected to demonstrate at COP 27 that they are in a new era of implementation by turning their commitments under the Paris Agreement into action.
The conference which started November 6 will end on November 18, 2022 in Sharm el-Sheikh, Egypt.