EU funds will be focused on clean energy, and sustainable cities and agriculture, with Bill and Melinda Gates Foundation also pledging $300m towards climate adaptation
The European commission has announced funding of €9bn (£8bn) for action on climate change, one of a flurry of measures from governments, businesses and investors aimed at achieving the goals of the 2015 Paris agreement.
The EU funds will form part of the bloc’s External Investment Plan, and will be focused on sustainable cities, clean energy and sustainable agriculture. The announcement was made at the One Planet Summit in Paris on Tuesday, held to mark the second anniversary of the landmark 2015 pact.
French president Emmanuel Macron hailed the progress made at the event and said it was possible to create alternatives to the fossil-fuel driven economy, but that more effort was needed globally.