Policy Updates

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Netherlands launches COP28 coalition to phase out fossil fuel subsidies

December 9, 2023 | Netherlands, France, Spain, Canada, Climate | Share this update

On December 9, 2023, during COP28, the Dutch government launched an international coalition to phase out fossil fuel subsidies, comprising 13 countries: Antigua and Barbuda, Austria, Belgium, Canada, Costa Rica, Denmark, Finland, France, Ireland, Luxembourg, the Netherlands, and Spain.

Research by the Dutch government found that half of all Dutch fossil fuel subsidies are tied to international agreements. This international coalition was created with the intention of phasing out fossil fuel subsidies while preventing greenhouse gas emissions shifting to other parts of the world.

The coalition noted three main pillars:

  • Transparency: all member countries publishing an overview of their fossil fuel subsidies by COP29 in 2024;
  • International agreements: identifying and addressing international barriers to phasing out fossil fuel subsidies; and
  • National action: encouraging international dialogue to share knowledge, develop national strategies, and join action to minimize carbon leakage.

In the coalition’s joint statement, various international organizations including the IMF, OECD, WTO, and World Bank were asked to develop a comprehensive methodological framework to identify the scope of international fossil fuel subsidies and to develop guidance for national phase-out strategies.

News article - Dutch governmentCoalition to Phase Out Fossil Fuels

EU pledges US$76 million to initiative supporting deforestation-free value chains

December 6, 2023 | France, Germany, EUI, Netherlands, Climate | Share this update

On December 6, 2023, during COP28, EU Commissioner for the Environment, Oceans, and Fisheries Virginijus Sinkevičius, as well as representatives from Germany, the Netherlands, and France, launched the Team Europe Initiative on Deforestation-free Value Chains and pledged an initial EUR70 million (US$76 million) to the initiative.

The initiative aims to tackle global deforestation and reinforce the pledges set forth in the Glasgow Leader's Declaration on Forests and Land Use from COP26, with the goal of stopping and reversing forest loss and land degradation by 2030. It is also aligned with the EU's Global Gateway strategy, which aims to transition partner countries to sustainable, deforestation-free, and legal value chains.

The initiative was developed to support inclusive partnerships between the EU and partner countries, facilitate sustainable trade, and address deforestation. Through the initiative, the EU is slated to offer technical assistance and capacity-building assistance to partner countries on key issues, including traceability, geo-localization, and land-use mapping. The initiative is also planned to serve as a centralized platform to bolster coordination between public and private stakeholders in both the EU and partner countries.

A Team Europe Hub will be established under the Sustainable Agriculture for Forest Ecosystems program to host information and coordinate further actions.

Press release - European Commission

Canada pledges US$25 million to Special Climate Change Fund

December 4, 2023 | Canada, Germany, Norway, Sweden, Spain, France, Climate | Share this update

On December 4, 2023, Canada announced a pledge of CAD34 million (US$25 million) for the Special Climate Change Fund, hosted by the GEF.

The announcement was part of a joint statement released by Canada and the governments of Belgium, France, Germany, Norway, Spain, Sweden, and the UK during COP28. Canada’s pledge to the fund will support in accelerating climate change adaptation in SIDS and catalyzing technology transfer, innovation, and private sector engagement for adaptation.

Press release - The Global Environment Facility

Team Europe pledges US$21.8 billion for clean energy at COP28

December 2, 2023 | Sweden, France, Spain, Netherlands, Germany, Italy, EUI, Climate | Share this update

On December 2, 2023, the EU institutions, the EIB, the EBRD, and the Member States that comprise Team Europe pledged EUR20 billion (US$21.8 billion) for clean energy partnerships with African partners.

The funding announcement listeed EUR3.4 billion (US$3.7 billion) in grants and covered the period from 2021-2027. The project, AEGEI, aims to produce over 50 Gigawatts of renewable energy by 2030.

12 EU Member States contributed to the funding. No language regarding specific partner countries was included in the announcement.

Press release - EU Commission

EU announces over US$3 billion in new agreements at Global Gateway Forum

October 27, 2023 | EUI, France, Education, Global Health, Climate | Share this update

On October 25-26, 2023, the EU hosted the Global Gateway Forum, which invited stakeholders from international businesses, partner countries, and CSOs.

The two-day conference aimed to increase visibility of the Global Gateway program, the EU's investment and ODA platform, which aims to strengthen Europe's ties with partner countries while addressing contemporary challenges like climate change or energy transition.

Over the course of the conference, EU Commission President Ursula von der Leyen and Commissioner for International Partnerships Jutta Uprilainen announced a variety of partnerships and funding, including:

  • EUR634 million (US$669 million) for global health, including EUR500 million (US$528 million) for a partnership between the EIB, BMGF to support SMEs working on global health R&D and vaccine development, and EUR134 million (US$141 million) to support health product manufacturing in Egypt, Ghana, Nigeria, Rwanda, Senegal, and South Africa;
  • EUR500 million (EUR528 million) to launch a credit facility for the EU's Just Energy Transition Partnership with Vietnam, which will focus on decarbonization projects, and was accompanied by EUR1 billion (US$1.1 billion) in loans from the EIB, AFD, and KfW;
  • EUR470 million (US$496 million) for Bangladesh, including an EUR395 million (US$418 million) loan from the EIB for solar and wing projects, and EUR70 million education, and combatting GBV;
  • EUR146 million (US$154 million) from the EU and AFD for Tanzania to support the construction of a hydropower plant on the Kagera river;
  • EUR72 million (US$76 million) for the 2023 EU - Kenya cooperation priorities, which included assistance for green energy transition, shoring up cybersecurity, combatting female genital cutting, and strengthening democratic structures; and
  • EUR46 million (US$49 million) to support the foundation of a Regional Teacher Facility in Africa to support the realization of commitments made at the 2022 Transforming Education Summit, with an emphasis on foundational learning, capacity-building, and technical assistance for partner countries in Africa.

While the event resulted in a variety of high-level commitments, observers expressed concern at the mismatch between representation from partner countries, many of whom sent heads of government or state, and EU Member States, some of which either did not attend or were represented by lower-level officials.

Press release - EU-Tanzania Hydropower AgreementPress release - EU-Africa Regional Teacher FacilityPress release - EU-Kenya Cooperation PrioritiesPress release - EU-Bangladesh AgreementPress release - EU-Vietnam JETPPress release - EU-Global Health Commitments

EU provides US$827 million for Nigeria through Global Gateway

October 19, 2023 | France, EUI, Maternal, Newborn, and Child Health, Agriculture, Education, Climate, Global Health | Share this update

On October 19, 2023, Commissioner for International Partnerships Jutta Urpilainen pledged EUR780 million (US$827 million) in ODA loans and grants for Nigeria through the global Gateway program.

The funding was announced ahead of the 8th Nigeria - EU strategic dialogue, which convened EU representatives and members of the new Nigerian government to discuss existing partnerships and new opportunities for cooperation. Key components of the support included:

  • EUR116 million (US$123 million) in ODA financing agreements for global health, sustainable and climate-resilient agriculture, SRH and MNCH, energy access and renewable energy capacity, and education, all with a focus on supporting women and young people; and
  • EUR600 million (US$636 million) in EIB loans for a green transportation project for inland shipping, with support from the AFD, support for SMEs, and renewable energy capacity.
Press release - European Commission

France pledges US$1.7 billion for GCF

October 6, 2023 | France, Climate | Share this update

On October 5, 2023, France pledged EUR1.6 billion (US$1.7 billion) to the GCF's 2024-2027 cycle during the GCF's second high-level replenishment conference in Bonn, Germany.

This is France's largest contribution since the creation of the GCF, making it the GCF's third-largest donor. 25 countries have pledged a total of US$9.33 billion, with additional pledges expected by COP28 in November 2023.

According to the French Ministry for Europe and Foreign Affairs, France exceeded its climate finance target in 2022, allocating EUR7.6 billion (US$8 billion) to climate finance. This included EUR2.6 billion (US$2.8 billion) for climate change adaptation. Climate adaptation finance is targeted to reach US$6 billion annually by 2025.

Press release - French Ministry for Europe and Foreign Affairs (in French)

France welcomes G20 development financing directions

September 10, 2023 | France, Agriculture, Climate | Share this update

On September 10, 2023, French President Emmanuel Macron spoke on the publication of the joint G20 communiqué in his speech during the G20 Summit in New Delhi, India, welcoming the African Union as a permanent G20 member and commenting on funding mobilization efforts.

Macron applauded the fact that the G20 goal of reallocating US$100 billion in SDRs from HICs to low- and medium-income countries had been surpassed, totaling US$108 billion. France exceeded its previous reallocation pledge, reallocating 40% of its SDRs totaling approximately US$7.5 billion. He emphasized France's central role with the IMF in launching and proposing this initiative.

On the objectives of the Paris Global Financing Pact Summit, Macron indicated that national PDBs and MDBs united in the FIC initiative succeeded in increasing public financing of development by US$200 billion. Macron also supported the agreement of the G20 to mobilize US$100 million in private resources for development financing.

Macron reiterated France's position supporting UN Security Council, IMF, and World Bank reform, which would see an increase in capital along with greater autonomy for LICs in exchange for shuttering coal consumption and extraction in certain regions.

Finally, Macron announced France will host the next IFAD replenishment conference, which will aim to mobilize US$2 billion to improve agricultural production systems in low- and medium-income countries. He also welcomed the attainment of the annual US$100 billion climate adaptation funding target.

Speech - French Presidency (in French)

EU, Papua New Guinea sign sustainability agreements

July 28, 2023 | France, EUI, Australia, Climate | Share this update

On July 28, 2023, EU Ambassador to Papua New Guinea H.E. Jacques Fradin signed two agreements between the block and the island nation on climate and biodiversity.

The first of the two agreements targeted Papua New Guinea's aims to develop a more sustainable economy. Fradin signed an agreement providing EUR34 million (US$37 million) for transitioning to a carbon-neutral economy and implementing sustainable resource management. The program, a part of the Papua New Guinea's Forest, Climate Change and Biodiversity Programme with the EU was also signed by representatives of the AFD.

Additionally, Fradin signed a declaration of intent to support the Papua New Guinea Port Corporation, which provides public services via water-interfacing infrastructure. Signed by DFAT, the EU, the AFD, and the EIB, the initiative aimed to bolster the climate resilience of Papua New Guinea's port systems.

Press release - European Commission

EU provides US$516 million for Philippines plastic waste management

July 28, 2023 | Germany, Spain, France, EUI, Climate | Share this update

On July 28, 2023, the EU announced EUR466 million (US$516 million) in funding for the Philippines under the Global Gateway initiative.

The funding was announced by European Commission President Ursula von der Leyen during a meeting in Manila with President Ferdinand Marcos. Von der Leyen stated that the funding would support the development of circular economic policy to manage plastic waste in oceans. In addition to policy development, the funding also targeted technology and knowledge transfers to support implementation.

Of the total Team Europe contribution, EUR64 million (US$71 million) was allocated from the EU budget. The remaining EUR402 million (US$445 million) comprised contributions from individual member states, including France, Germany, Spain, and Finland.

Press release - European Commission






US$ amounts are cited directly from sources; in the absence of an official conversion, they are calculated using the previous week's average of the US Federal Reserve's daily exchange rates.

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