EU Environment Committee Calls for Climate Action Ahead of COP29

EU Environment Committee’s Stance Ahead of COP29

The environment committee of the European Parliament is advocating for the European Union to urge major economies and significant polluters to contribute to a global climate adaptation fund during the upcoming COP29 summit in Baku next month. However, the committee displayed a lack of decisiveness regarding the critical issue of phasing out fossil fuels, particularly oil and gas.

One of the central discussions at the Baku summit will revolve around establishing a new ‘collective quantified goal for climate finance’ that will come into effect post-2025. This goal aims to assist countries, particularly those in the global south, in adapting to the realities of a climate that is already, on average, 1.3 degrees Celsius warmer than pre-industrial levels. Additionally, it seeks to facilitate investments in green energy and other sustainable development initiatives.

In a draft resolution adopted by a vote of 54 to 23 on October 21, Members of the European Parliament (MEPs) highlighted the need for substantial financial resources, estimating that around one trillion dollars will be required annually. The proposed fund should include a broader range of contributors, reflecting the evolving financial capabilities and historical emissions of various parties involved. This initiative is set to replace the previous commitment under the 2015 Paris Agreement, which required a mere $100 billion annually from a select group of developed nations.

MEPs are particularly pointing fingers at major economic powers, including China and other BRICS nations, which, despite their economic status, are still categorized as ‘developing’ countries for the purposes of global climate financing—implying they should be seen as recipients rather than contributors.

Despite the assertive language regarding climate finance, MEPs took a cautious approach when addressing the contentious issue of fossil fuel phase-out, which is another significant topic on the agenda for Baku. They acknowledged that transitioning away from fossil fuels is “both necessary and technologically feasible” and emphasized that COP29 must send an “unambiguous signal” indicating that countries are committed to the pledges made at last year’s summit in Dubai. These pledges included transitioning towards renewable energy sources and enhancing energy efficiency in a just and equitable manner.

However, they refrained from specifying a concrete timeline for phasing out coal, oil, and gas. Green MEP Lena Schilling attributed this hesitance to the influence of the conservative European People’s Party (EPP) and the growing presence of further right factions. Schilling stated, “From a climate activist and science perspective, the EU needs a clear commitment to phasing out fossil fuels and raising its own climate ambitions until 2040. This is crucial for establishing trust with other nations and for maintaining a strong negotiating position during the COP discussions.”

The European Commission is expected to propose a new emissions reduction target for 2040 early next year, with Climate Commissioner Wopke Hoekstra advocating for a target of at least 90% reduction from 1990 levels.

The environment committee also expressed strong criticism regarding Azerbaijan’s selection as the host nation for COP29, highlighting that over 90% of its exports are derived from oil and gas, with plans for further expansion. They noted that the summit’s president-designate, Mukhtar Babayev, has extensive ties to the state oil company, Socar. Additionally, the committee voiced its “profound concern regarding the human rights situation” in Azerbaijan.

The European Parliament is dispatching a 15-member cross-party delegation to attend the summit in Baku. However, their role will primarily be observational, as the European Commission is tasked with leading the negotiations based on a mandate agreed upon by EU governments in the preceding week. The environment committee stressed that the parliament “should be an integral part of the EU delegation at COP29, given that it must give its consent to international agreements.”

A vote on the resolution by the European Parliament as a whole is scheduled for November 13 or 14, shortly after the commencement of the two-week summit in the Azerbaijani capital.

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