Key facts
- EU will not make new climate finance pledges at COP31.
- EU provided €32.3 billion in public climate finance in 2025.
- African countries will demand a tripling of climate adaptation finance.
The European Union has stated it will not be making new climate finance commitments at the upcoming COP31 conference, according to Climate Commissioner Wopke Hoekstra. Despite being a leading global provider of climate finance, the EU is facing internal economic pressures, including high fuel and gas prices, which are diverting attention and resources. Officials also feel other wealthy nations are not contributing their fair share. In 2025, the EU and its member states provided €32.3 billion (around $36 billion) in public climate finance to developing countries, an increase from the previous year. However, a group of African countries plans to demand a tripling of climate adaptation finance at the conference, which is set to begin in Turkey on November 9.