Climate finance rules must be better targeted towards cities and regions  
 Plenary session of the European Committee of the Regions
10/11/2017
"From the emotional moments in Paris we have now moved to the phase of putting the political commitments into reality – and we are seeing that this step holds its very own challenges", stated Van De Nadort, emphasising that "we need to make sure that local and regional authorities are directly involved in designing and implementing policy measures to mitigate and adapt to climate change". He also suggested complementing the system of 'nationally determined contributions' to the climate goals, by a system of 'locally determined contributions', "in order to show what each and every one of us can do".

Ahead of the debate, CoR members adopted the draft opinion by PES rapporteur Marco Dus, Member of Vittorio Veneto Municipal Council (Italy) on "Climate finance: an essential tool for the implementation of the Paris Agreement".
The opinion, which is the CoR's input to the COP 23 climate talks, puts forward three key demands, aimed at mobilising public and private investments and strengthening their impact:

  • the need for a clear direction for medium and long-term investment, by fixing ambitious climate targets  not only for 2030, but also for 2050 and by agreeing on clear definitions and quality standards for 'climate finance' instruments; 
  • the importance of mobilising both sufficient EU-level finances, included in the future EU budget and the next multi-annual financial framework, and funding from other levels of governance and the private sector;
  • facilitating the investment capacity of local and regional authorities by addressing a number of challenges, including: better technical assistance - including for smaller local authorities – in accessing innovative financial instruments and adapting EU accounting rules and EU/ national rules on investments and debts. 
UN's COP23 will take place in Bonn from 6 to 17 November 2017. Together with CoR President Karl-Heinz Lambertz, Marco Dus and PES members Roby Biwer, Francesco Pigliaru, Kata Tüttö and Zoltan Varga will be part of the CoR's delegation.

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