EU Announces Climate Change Windows for Regional Funding

29 November 2010: The EU has announced specific climate change "windows" in all EU regional investment facilities, to enable tracking of all climate change-related projects funded by the EU, the European Investment Bank (EIB) and other European Finance Institutions, encompassing both public and private investments in the areas of transport, energy, environment, water, sanitation and forests.

The announcement was made by Commissioner for Development, Andris Piebalgs, the Commissioner for Climate Action, Connie Hedegaard, and the Commissioner for Enlargement and European Neighbourhood Policy, Stefan Füle, on 29 November 2010. Commissioners Piebalgs and Füle noted that, through the different investment facilities, the EU has a seven billion euro pipeline of climate change-related projects in partner countries. Commissioner Hedegaard anticipated that the creation of the climate finance windows will boost developing countries' adaptation projects and investment in a low-carbon future, as well as increasing the reporting and transparency of EU climate finance.

The EU regional investment facilities include the Neighbourhood Investment Facility, the Africa-EU Infrastructure Trust Fund, the Latin American Investment Facility, and the Western Balkan Investment Framework. [EU Press Release]