EU Sets Ambitious Climate Goals for COP29 in Baku
Reuters
The European Union is gearing up for the 29th United Nations Climate Change Conference (COP29) with a strong commitment to combat climate change. The Council of the European Union has approved key conclusions that will guide its negotiations at the summit, which will take place in Baku, Azerbaijan, from November 11 to 22, 2024.
The EU aims to secure an ambitious and balanced outcome at COP29, centered on limiting global warming to 1.5°C, boosting resilience, and agreeing on a new collective quantified goal (NCQG) for climate finance. These goals will be driven by the latest scientific evidence and a consensus among EU member states.
"Ambitious yet Balanced"
Hungarian Minister of State for Environmental Affairs and the Circular Economy, Anikó Raisz, emphasized the EU's leadership role in global climate efforts. "This ambitious yet balanced text, grounded in consensus among EU countries, will serve as the EU’s roadmap to Baku," she said. The EU is calling for global solidarity, especially with vulnerable countries and communities that bear the brunt of climate change.
Climate Finance and Global Cooperation
A central focus for the EU is reaching agreement on a new climate finance goal. The Council highlighted the need for a broad, transformative approach that includes both public and private investment, acknowledging that public funds alone will not be enough to meet the financial demands of the green transition. The new goal will reflect evolving economic realities and rising global emissions since the 1990s.
Strengthening National Climate Commitments
The EU is also pushing for greater ambition in the next round of nationally determined contributions (NDCs), which are set to be submitted by 2025. The Council has called on all nations, particularly major economies, to submit more aggressive climate action plans that include economy-wide reduction targets covering all greenhouse gases.
Mitigation, Adaptation, and a Just Transition
The Council’s conclusions stressed the need to scale up both mitigation and adaptation efforts in this critical decade. It called for the integration of climate resilience into existing policies and urged a transition away from fossil fuels in a just and equitable manner, in line with the goal of achieving net-zero emissions by 2050.
Looking back on the outcomes of last year's COP28, the EU underscored the importance of building on the global stocktake and continuing to track progress through dialogues like the UAE’s, to ensure that collective efforts align with the Paris Agreement.
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