The joint initiative, worth €21 million, was launched during One Planet Summit in New York. Less than a year after it was announced by French President Macron at the 2017 edition of the Summit, the EU, France, Australia and New Zealand have joined forces to make it a reality.
Commissioner for International Cooperation and Development, Neven Mimica, said: “The Pacific is home to more than 12 million people, and although their contribution to climate change is minimal, they suffer the consequences greatly. The Pacific also hosts an important part of the world’s biodiversity, which is increasingly endangered. With the EU’s €10 million contribution to the joint initiative, we are renewing our commitment to help protect the region from climate change and its impacts on biodiversity, livelihoods and the environment.”
As climate change and biodiversity call for stronger joined-up actions, the initiative plans to build an international collation to catalyse and streamline funding in these areas. By pooling resources and coordinating actions, it aims to help the Pacific region adapt to the effects of climate change, protect biodiversity and to increase resilience. The EU and France are contributing €10 million each and New Zealand and Australia with €1 additional million, with contributions welcomed from other donors.
The joint initiative will finance projects in areas such as climate change adaptation and mitigation, ocean governance (including sustainable fisheries and aquaculture) and the environment (including waste management, biodiversity or eco-tourism).
Climate action is a key priority for the EU. The climate-specific expenditure in the EU’s cooperation and development area is estimated at approximately €1.5 billion for 2019 and €1.6 billion for 2020.
The European Commission has also proposed increasing the mainstreaming target to 25% (from 20%) of the overall budget for external action for the period 2021-2027. This proposal goes in line with EU’s commitment to continued and stable financing of climate action, both within and beyond the EU’s borders.
Original source: European Commission
Published on 27 September 2018