EU could triple inputs to Green Climate Fund by using Emission Trading Scheme revenues

In response to the conclusions adopted by EU ministers, Lies Craeynest, EU climate policy advisor of Oxfam, said:

"EU environment ministers again acknowledged the importance of financial support for climate action in poor and vulnerable countries in the Paris climate agreement.  But to stop diverting development aid to climate finance, they must, at their next meeting, set aside part of the revenue generated from the EU’s flagship climate policy tool, the Emission Trading Scheme, for the Green Climate Fund. This could more than triple the EU’s current contributions to the Fund from 2020."