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The [[United Nations Framework Convention on Climate Change|UNFCCC]] also has an operating entity of the financial mechanism on an ongoing basis - '''The Global Environment Facility'''. This entity also '''manages two special funds''' established by the Parties: the '''Special Climate Change Fund'''; and the '''Least Developed Country Fund'''.<ref>"The Global Environmental Facility", retrieved from: http://www.thegef.org/about-us</ref> The EU is the largest contributor of climate financing and it still aims to scale up climate financing with the goal of 20% of its budget being spent on climate action by 2020. <ref>Article “Financing Adaptation”, retrieved from: https://ec.europa.eu/clima/policies/adaptation/financing_en</ref>

In terms of international cooperation, the EU has set policies, legislation and initiatives for more efficient use of less polluting energy, cleaner and more balanced transport options, more environmentally friendly land-use and agriculture, more sustainable cities, more climate-resilient communities and fewer emissions from all sectors of our economy.<ref>"Adaptation to climate change", retrieved from: https://ec.europa.eu/clima/policies/adaptation_en</ref>