24 March 2010, Brussels Belgium

At the plenary session of the European Parliament in Brussels on 24 March 2010, European leaders reaffirmed their commitment to provide €2.4 billion immediate support to developing countries to help them tackle climate change. However, this sum will only be granted if other industrialized countries make similar pledges.

The draft conclusion of the European Council states that "the EU and its member states will implement their commitment to provide €2.4 billion annually over the 2010-2012 period for fast-start financing". In the political decision reached at the UN Climate Summit last December (COP 15) industrialized countries committed to joitnyl mobilize 30 billion in so-called "fast-start" aid for developing countries for 2010-2012, rising to $100 billion a year by 2020.

European Commission President José Manuel Barroso stressed the importance of "respecting our pledges on fast-start finance" in order to build trust with developing countries. To further the negotiations at global level, the EU will continue its “step-by-step approach” of conditional commitments which will require parallel moves from other industrialized nations.

A "preliminary state of play" of EU commitments on fast-start funding is due to be presented at the next UN Climate Change Negotiations United Nations Framework Convention on Climate Change in Bonn, Germany, from 31 May to 11 June 2010.

Ahead of the UN conference in Cancún, Mexico, scheduled at the end of the year, the Europe Union will try to address climate change issues at all levels, including regional and bilateral meetings such as the G20 meeting in Toronto, Canada, on 26-27 June.

Click here for further information