In the run-up to the 28th United Nations Climate Change Conference (COP28), preparations are being stepped up to establish targets and harmonise positions on a global scale. On Monday 30 and Tuesday 31 October, the European Commissioner for Climate Action, Wopke Hoekstra, took part in a preparatory ministerial meeting in Abu Dhabi, the federal capital of the United Arab Emirates, the host country of COP28.
Commissioner Hoekstra held bilateral talks with several dignitaries, including a meeting with the COP28 President-designate, Sultan Al Jaber. These talks explored the main issues, including the importance of an inclusive COP and the measures needed to make the fund for climate-related loss and damage operational.
And for good reason: the issue of financing the “loss and damage” suffered by the nations of the South, which are the most vulnerable to climate change, remains a major concern. An agreement in principle on the creation of such a fund was sketched out at COP27 in Egypt, but a crucial meeting on 21 October ended without a consensus, leaving countries in the North and South divided, as Agence France-Presse had reported at the time.
On Tuesday 31 October, Commissioner Hoekstra was keen to emphasise the European Union’s unwavering commitment to this issue. Prefacing his speech, he said: “The European Union was, is and will continue to be absolutely committed to fulfil on operationalising the [Loss and Damage] Fund”. He underlined as well the importance of trust between stakeholders and the need for rigorous organisation.
Mr Hoekstra also stressed that the fund should be specifically targeted at the most vulnerable nations, which are often the least responsible for climate change. These commitments must be reflected in the fund’s allocation criteria and terms and conditions. In view of the urgency of implementation, the Commissioner referred to the potential role of the World Bank, while acknowledging the concerns of certain countries regarding the inclusion of island developing states.
In his vision of a balanced approach to financing, the European Commissioner for Climate Action has called for openness to both conventional and less conventional sources of financing. He also suggested a tax on aviation, which is often under-taxed worldwide, as a potential source of revenue, “not just for loss and damage, but for climate action at large”.
In addition to discussions on the fund, the Commissioner stressed the importance of combating dependence on fossil fuels. He told AFP that the call to eliminate fossil fuels in the final COP28 agreement was not a whim or “frivolous”, but a necessity dictated by science, the latter being one of the salient points of the European position adopted on 16 October (see EUROPE 13273/5).
The Commissioner’s remarks: https://aeur.eu/f/9d3 (Original version in French by Nithya Paquiry)