On Thursday 20 October, the European Parliament called on the European Commission and all EU Member States to implement concrete policies to phase out all direct and indirect fossil fuel subsidies by 2025 at the latest, in a resolution on the 27th United Nations Climate Change Conference (COP27).
Adopted by a vote by show of hands, the resolution also calls on the parties to COP27 to work towards a “fossil fuel non-proliferation treaty”.
MEPs also call on the EU and G20 nations to commit to more ambitious greenhouse gas emission reduction targets before COP27.
On climate change adaptation, they urge all developed countries to ensure that they meet the target of mobilising $100 billion in climate change financing each year until 2025 to help developing countries cope with climate change. According to the Parliament, the new collective post-2025 target “should go well beyond the 2020 $100 billion annual goal”.
The text also addresses the delicate issue of addressing and reducing loss and damage, i.e. damage caused by climate disruption that cannot be avoided either by actions to reduce greenhouse gas emissions or by adaptation. While the Parliament welcomes the creation of a focused dialogue on this issue at COP26 (‘Glasgow Dialogue’), it calls on parties to agree on “new, adequate and additional sources of public finance”, with a clear priority for grants rather than loans.
COP27 will be held in Sharm el Sheikh, Egypt, from 6 to 18 November.
See the resolution: https://aeur.eu/f/3pz (Original version in French by Damien Genicot)