How big is Europe’s contribution to developing countries in the race to zero emissions?

Building mutual trust and confidence between countries is crucial in the global fight against climate change. Until 2020, the annual reports submitted were in accordance with the EU mechanism for monitoring and reporting greenhouse gas emissions (MMR). From 2021 onwards, the annual reporting will follow the requirements of the Governance of the Energy Union and Climate Action. Our previous assessments of the reporting under the MMR showed that there is room for further improvement of comparability and transparency of the reported figures. Therefore, our study aimed to support the European Commission – DG Clima in assessing the data provided by Member States and further improving the reporting methodologies and guidance used.

For this study, Trinomics teamed up with Ricardo and Oeko Institut. The project covered the reporting under the MMR for 2019 and under the Governance Regulation for 2020. It ran until March 2022.

These were the key objectives of the project:

i. Provide support to DG Climate Action for the accurate aggregation of Member States’ information and data on climate finance provided to developing countries under Article 16 of the MMR for 2019 and under Article 19 of the Governance Regulation for 2020;
ii. Develop a stock take of the developments on transparency of climate finance as part of the UNFCCC work to evaluate to what extent further improvements are needed in the light of the Paris Agreement;
iii. Elaborate recommendations for further improvement of the EU’s and Member States’ reporting on climate finance through potential adaptation of the reporting formats under the Governance Regulation or additional technical guidance.