The big event in EU politics this week is of course the start of the annual climate jamboree, dubbed “COP28”, which is taking place in Dubai this year. Today, already on the first day, Wopke Hoekstra, European Commissioner for Climate Action, announced on the first day that EU taxpayers will need to fork out “at least 225 million euros” for a “loss and damage fund” for climate change, which is meant for the world’s poorest countries. Past experiences with EU spending outside of the bloc are not reassuring. Only in June, the European Court of Auditors criticized that the European Union’s foreign aid budget lacks transparency.
