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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 22:27

Estonia contributes a million euros in UN Green Climate Fund

BC, Tallinn, 11.09.2015.Print version
The Estonian Ministry of Environment has decided to channel a million euros from the EU emission quota unit trading system auction revenues to the UN Green Climate Fund in the years 2015-17, the ministry announced BC.

"Estonia has to contribute to the international climate cooperation a total of 3 million euros in three years from the emission units trading system auction revenues. We have decided that a million euros is going to the UN Green Climate Fund, which helps developing countries to reduce greenhouse gas emissions, which in turn contributes to climate change mitigation and adaptation to changes," explained the Ministry of the Environment Undersecretary Meelis Münt.

 

The Green Climate Fund was established in 2013 and is aimed at financing both easing climate change and adapting to it in developing countries. The initial capitalization of the Fund took place in 2014.

 

The Ministry of the Environment is planning to use the remaining two million euros to finance individual projects, which are also supposed to help developing countries through the use of environment-friendly solutions such as renewable energy projects. It can also contribute to enhancing the competitiveness of Estonian enterprises and non-profit organizations, by advocating carrying out the above-mentioned projects with the aim to find a suitable partner in Estonia. The ministry hopes to choose the suitable projects next year.






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