Spanish strategy for International Climate Finance

The Spanish Strategy for International Climate Finance outlines Spain’s commitment to supporting global climate action through a coordinated framework aligned with the Paris Agreement and the Sustainable Development Goals. Mandated by the Climate Change and Energy Transition Law (Law 7/2021), the strategy focuses on enhancing climate-resilient, low-carbon development by aligning funding with their national climate priorities. It excludes support for unabated fossil fuel projects except in limited, clearly defined cases consistent with the 1.5°C target. Principles guiding the strategy include coherence with EU taxonomy, gender equality, human rights, and fostering public-private collaboration.Key objectives include fulfilling Spain’s international commitments by scaling up climate finance to €1.35 billion by 2025, integrating climate goals into development cooperation, and leveraging investment to advance ecological transitions. The strategy prioritises renewable energy, green transitions, and sustainable development projects while enhancing accountability and alignment with recipient countries’ climate plans.