Environment and Habitat

European Commission Vice President Frans Timmermans said the money is intended primarily for the most vulnerable countries, such as the least developed countries and small island states. In 2020, the EU and its 27 member states already pledged 23.39 billion euros in climate aid for developing countries to help them reduce their emissions and adapt to the effects of climate change.

More than 100 countries have reached an agreement at the United Nations climate conference in Glasgow to stop deforestation and land degradation by 2030. It is the first significant pledge during the UN climate summit that started on Sunday. Forest-rich countries such as Brazil, Russia, Canada and Indonesia also support the plan.

President of the European Commission Ursula von der Leyen said in her speech at the United Nations Climate Change Conference in Glasgow that the European Union will do everything in its power to make Europe the first climate-neutral continent. She therefore stressed that there must be a global price for greenhouse gas emissions. She said there must be a clear price for carbon dioxide emissions, "because nature can no longer pay it".

The United Arab Emirates on Thursday (7 October) at the Dubai Expo 2020 announced its plan to reach net-zero emissions by 2050 with the cost of 600 billion dirhams ($163 billion) which would go to investments in renewable energy.