International Climate Finance Days focus on private investment
The Luxembourg International Climate Finance Days 2026, held on 3 and 4 June, focused on increasing climate finance, broadening the donor base, mobilising private investment and improving the effectiveness of financing instruments. Lithuania was represented by Minister of Environment Kastytis Žuromskas.
The event brought together representatives of governments, international organisations, development finance institutions and the private sector. Discussions explored how climate commitments could be translated into practical projects, public funding used more effectively and a broader range of partners and financing sources engaged in climate action.
“Climate finance must help translate political commitments into tangible projects. Public funding remains essential, but it should not be the only source of finance. It is therefore important to broaden the range of contributing countries and partners, strengthen cooperation with financial institutions and the private sector, and make better use of market-based mechanisms and innovation,” said Minister of Environment K. Žuromskas.
The Luxembourg-EIB Climate Finance Platform was discussed as an example of combining public and private funding. Such models use public resources to reduce the initial risks associated with projects, creating more favourable conditions for private capital to invest in climate change mitigation and adaptation.
During a bilateral meeting, Luxembourg’s Minister for the Environment, Climate and Biodiversity, Serge Wilmes, presented plans to expand the Luxembourg-EIB Climate Finance Platform by allowing other countries to contribute national funds. Minister Wilmes invited Lithuania to join the platform.
Minister of Environment K. Žuromskas discussed the possibility of using the platform to finance projects in Eastern Partnership countries and emphasised the importance of such initiatives to Lithuania.
The Minister also participated in a discussion on the Rio Changemakers initiative, launched by Luxembourg and its partners during COP30. The initiative proposes an innovative AI-powered digital tool designed to connect investors, funds and public capital with credible, mature and locally supported climate and nature projects.