The European Union has pledged to contribute 100 million euros to the Adaptation Fund during Tuesday’s high-level plenary session of the COP26 summit in Glasgow, according to a European Commission press release.
The Adaptation Fund was created to finance climate change adaptation and resilience activities in developing countries that are vulnerable to the adverse effects of climate change.
“We have to scale up international climate finance and provide a predictable framework for its delivery”, said Executive Vice President of the Commission Frans Timmermans during Tuesday’s plenary.
“The Adaptation Fund can play a key role and that is why I am pleased to announce for the first time that the European Commission is committing 100 million euros to the Fund, to support developing countries”, Timmermans added.
Source: Cyprus News Agency