Spain commits to increasing climate funding by 50% by 2025

At COP26, Spanish Prime Minister Pedro Sánchez announced that Spain aims to increase climate funding by 50%, or €1.4 billion (US$1.6 billion) yearly, by 2025. According to Sánchez, the new funding will be channeled to low- and middle-income partner countries with the objective to effectively address a fair and sustainable ecological transition.

Sánchez underlined Spain’s strong engagement in the fight against climate change and called upon the global community to take decisive actions to adapt and mitigate the effects of climate change. Spain supports COP26’s objective of mobilizing US$100.0 billion to help vulnerable countries address climate challenges.

Press release – La Moncloa (in Spanish)