EU steps up unity on climate change
to partners outside the EU, through policy dialogues, capacity-building projects and climate finance. The EU, its member states and the European Investment Bank contributed 20.2 billion ($23.5 billion) in public climate finance towards developing countries in 2016.
This represents a 15 per cent increase compared to the previous year, as well as roughly half of global public climate finance. The EU remains committed to the collective goal of mobilising $100 billion a year in climate finance by 2020 from a variety of sources to support action in developing countries.
In Cambodia, the EU is supporting the Royal Government’sefforts to address climate change through funding of the Cambodia Climate Change Alliance. This alliance helps ministries in adapting their activities and planning to tackle climate change. It helps to steer public and private investments into a more climate friendly direction, and supports local communities in adaptation to climate change.
The EU also supports the conservation and sustainable use of forests, which have an important role to play in the fight against climate change, by absorbing harmful CO2 from the atmosphere, and regulating local climatic conditions.
The production of energy from renewable, environmentally friendly sources such as solar energy is key to ensuring that economic growth does not come at the expense of climate stability.
At a time where solar energy costs have fallen dramatically, the huge potential of solar energy for sustainable development needs to be fully exploited in Cambodia.
The EU supports the adoption and distribution of solar energy technologies in Cambodia. Solar energy isa viable alternative to more environmentally damaging technologies such as energy generated from large hydropower dams and coal.
While the Paris Agreement sets the direction of travel, the journey has only just begun. Over the coming months and years, all countries will need to foster the right environment to enable this transformation to continue.
Low-emission and climate-resilient growth is possible for countries at all levels of income and brings multiple and tangible benefits for people, the economy and the environment. The EU is committed to work with Cambodia as well as all partners to continue this journey together.