Von der Leyen outlines €300bn climate investment programme

European Commission President Ursula von der Leyen on Wednesday told the UN Climate Summit in New York that the world can rely on the European Union’s continued leadership on climate issues.

Von der Leyen highlighted that the transition to clean energy is accelerating, with investment rising by almost 80% since the adoption of the 2015 Paris Agreement. She noted that EU emissions have fallen by around 40% since 1990 and now account for just 6% of global emissions, with the bloc on track to achieve its 2030 target of a 55% reduction.

She added that EU member states will formally submit their Nationally Determined Contributions ahead of COP30 and are working on a proposed 90% emissions reduction target for 2040, framing this as the path towards climate neutrality by 2050.

Von der Leyen also pledged that the EU will maintain its global leadership in climate finance, mobilising up to €300 billion through the Global Gateway investment programme to support the clean energy transition worldwide.

She explained that over 300 million people in Africa already benefit from access to electricity and clean cooking solutions, stressing that this is not merely a climate issue but a matter of “basic human dignity, as no mother or child should die simply from cooking under hazardous conditions.”

The Commission chief welcomed Brazil hosting COP30, describing the Amazon rainforest as “the green lungs of our planet,” and emphasised: “There could be no better place to reaffirm our strong commitment to multilateralism.”

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