In 2015, the Luxembourg government decided to allot a global amount of 120 million euros, over the period from 2014 to 2020, to international climate finance. This contribution is additional to Luxembourg’s Official Development Assistance (ODA) of about 1 per cent of gross national income.
These public funds for climate action are targeting three thematic areas:
- mitigation of greenhouse gas emissions,
- adaptation to the effects of climate change,
- actions in the field of reduction of emissions from deforestation and forest degradation, the conservation of carbon stocks and the sustainable management of forests and enhancement of forest carbon stocks (REDD+)
The Luxembourg Climate Finance Strategy is aiming at an indicative split of public funding between 40% for adaptation, 40% for mitigation and 20% for REDD+, while keeping in mind the needs of the partner countries.