On Wednesday 4 September, the members of the European Parliament’s Committee on the Environment, Public Health and Food Safety (ENVI) discussed the draft resolution on the United Nations Climate Change Conference (COP29), to be held in Baku (Azerbaijan).
The aim of this exchange was to define the European Union’s priorities on issues relating to climate financing, adaptation and the first global assessment of climate commitments.
Co-rapporteur Lídia Pereira (EPP, Portuguese) opened the debate by referring to the unequal distribution of financial efforts between EU Member States and other major economies.
“It is crucial that emerging countries such as China and Saudi Arabia also contribute”, she said. She insisted on the fact that the EU is financing a third of the world’s resources for transition, while representing only “6% of the world’s population”.
This issue of equity was taken up by co-rapporteur Javi López (S&D, Spanish), who pointed out that, despite the commitments made at previous COPs, results are slow to materialise. He believes that COP29 must tackle the issue of the effective implementation of climate financing and policies, particularly in the most vulnerable countries.
However, Alexandr Vondra (ECR, Czech) took a more critical approach, fearing that the EU was getting too far ahead of itself without having any real global partners. “We play leaders, but we do not have followers”, he warned, adding that over-ambitious targets could harm Europe’s economic competitiveness.
In his view, it is imperative to strike a balance between climate ambitions and economic viability.
Emma Wiesner (Renew Europe, Swedish), co-rapporteur, proposed a concrete mechanism to overcome these challenges: global carbon pricing, insisting on strict application of Article 6 of the Paris Agreement, which regulates market mechanisms for emissions reductions. Ms Wiesner stressed the need for a clear and responsible financial framework to support the transition.
Co-rapporteur Lena Schilling (Greens/EFA, Austrian) refocused the debate on the importance of a fair transition. She reiterated that “financing must be socially fair and equitable, and vulnerable communities have to be protected”, calling for more ambitious post-2025 financial targets.
For Nikolas Farantouris (The Left, Greek), the ‘Loss and Damage Fund’ is a crucial mechanism for supporting the most vulnerable countries in the face of the devastating effects of climate change. He pointed out that it is often the most vulnerable social groups, particularly women, who suffer the most serious consequences.
Finally, Dimitrios Zevgolis, Head of Unit at the European Commission’s Directorate-General for Climate Action, explained that one of the objectives of COP29 will be to set the “new collective quantified goal for climate finance”, and said that the EU will present new nationally determined contributions before February 2025.
This exchange of views was followed by the adoption (69 votes in favour, 7 against and 10 abstentions) of two questions for oral answer on COP29 to the Commission and the Council.
See the two questions: https://aeur.eu/f/dbl ; https://aeur.eu/f/dbm
The draft resolution will be adopted this autumn.
See the draft resolution: https://aeur.eu/f/dbi (Original version in French by Nithya Paquiry)