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European Commission - Speech - [Check Against Delivery]

“Scaling-up finance for climate action” – Speech by Commissioner for Climate Action and Energy, Miguel Arias Cañete

Paris, 12 December 2017

Monsieur le Premier Ministre Bainimarama, 

Monsieur le Ministre Le Drian, 

Madame la Secrétaire exécutive Espinosa, 

Monsieur le Ministere Kishida, 

J'aimerais saisir cette occasion pour remercier  l'engagement exemplaire du gouvernement français dans la lutte contre le changement climatique et la transition écologique. 

Ce sommet est le moment opportun de célébrer l'accord historique qui a étéadopté à la conférence de Paris sur le climat en 2015. L'Accord de Paris est un succès diplomatique de la France et la prémisse d'un tournant pour le monde.

C'est aussi un succès de toute l'Union européenne puisque nous, Européens, sommes depuis longtemps à l'avant-garde des efforts dans la lutte contre le changement climatique.

Mais ce sommet est aussi une opportunité précieuse pour accélérer la mise en œuvre de l'Accord de Paris et changer l'échelle de la finance pour l'action climat.

Ce sont les investissements d'aujourd'hui qui dessinent le monde de demain. Afin de réduire les émissions et s'adapter aux effets des changements climatiques, lesinvestissements nécessaires sont de l'ordre de milliards de milliards de dollars.

Ladies and gentlemen, 

The European Union remains the largest provider of Official Development Aid in the world. 

In 2016, collective EU development assistance increased for the fourth consecutive year - reaching EUR 75.5 billion. This is our highest ever level of support representing close to 60% of total global efforts.

The EU and its Member States are also the biggest contributors of climate finance to developing countries. Our public climate finance grew to over 20 billion euros last year, with represents half of the world's total. This is an increase of more than 15% compared to 2015 or more than double compared to 2013. 

This significant increase show the importance of making swift and ambitious progress on the Paris Agreement's transformational objective to make finance flows consistent with a pathway towards a low-carbon future. 

The EU remains committed to the collective goal of mobilising USD 100 billion a year in climate finance by 2020 and through to 2025 for climate action in developing countries. 

This mobilisation will come from a variety of sources, public and private, while we continue to significantly increase adaptation finance. 

In the European Commission, we are effectively including climate change in all programmes and initiatives in order to help countries achieve sustainable development. At least 20% of the EU budget dedicated to external funding will be spent on climate action by 2020. This means that an estimated EUR 14 billion of public grants will support climate activities in developing countries between 2014 and 2020. 

But no single country, acting alone, can take the USD 100 billion out of reach. We urge other contributors to fulfil their commitments, and to look to mobilise further finance from a range of available sources. This includes the private sector and the multilateral development banks. 

As part of our overall efforts in reaching the UN 2030 Agenda and its Sustainable Development Goals and the Paris Agreement, the European Commission has launched a new External Investment Plan to support investment and strengthen public and private partnerships for development in partner countries in Africa and the European Neighborhood.

With a contribution of €4.1 billion from the European Commission, the External Investment Plan is expected to leverage more than €44 billion of investments by 2020.

Today I would like to announce three climate-relevant priority areas of investment ("windows of investment") thatare expected to generate approximately 9 billion euro in investments in total:

  • The first window will focus on sustainable energy and connectivity. It will support investments in access to and generation of renewable energy as well as sustainable and climate-friendly transport and logistics chains.
  • The second window will focus on sustainable cities. It will mobiliseinvestments within the municipal infrastructure sectors of sustainable urban planning, sustainable and smart mobility, water, sanitation, waste management, renewable energy services and energy efficiency, resilient infrastructure and buildings, including social housing. 
  • And the third window will focus on sustainable agriculture, rural entrepreneurs and agribusiness. It will support investments opportunities for the private sector that achieve sustainable, low-carbon, climate-resilient and inclusive growth along the agricultural value chain. 

Mesdames et messieurs, 

L'ambitieux plan d'investissement extérieur de l'UE encouragera l'investissementdurable et promouvra une croissance inclusive, la création d'emplois et le développement durable adapté aux besoins spécifiques des pays partenaires. 

L'accord de Paris est un signal clair adressé aux investisseurs, tant publics que privés, qui leur indique que la transition mondiale vers une énergie propre s'inscrit dans la durée. 

Le plan d'investissement extérieur de l'UE montre que la Commission européenne est déterminée à mobiliser des investissements nécessaires et passer à la vitesse supérieure en faveur des économies plus modernes, plus justes et plus durables. 

Merci de votre attention.

SPEECH/17/5237


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