Building on one of the assertions made in the Copenhagen Accord – ‘including alternative sources of finance’ – CAN Europe believes that the EU could lead a more ambitious way to increasing its climate finance support through implementing a number of measures that would generate revenues for EU governments.
We set out the most viable innovative sources of finance in our position paper. These sources include revenues from the EU Emissions Trading Scheme, earmarked funds from a tax on financial transactions in EU Member States, carbon pricing for international shipping and aviation, as well as a levy on the extraction of fossil fuels. For our full position and proposals please go here.
In addition, CAN Europe has been supporting the on-going CSO campaign to adopt and reinforce a Financial Transaction Tax in ten EU Member States see our blog on the discussions.