MEPs Advocate for Bold Climate Action and Finance Goals Ahead of COP29 in Baku

COP29: European Parliament Members Outline Their Goals for Upcoming Global Climate Conference

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On Monday night, the Environment, Public Health, and Food Safety Committee approved their proposals for the United Nations Climate Change Conference, COP29.

A resolution passed with 54 votes supporting it, 23 opposing, and four members abstaining, urges nations to establish a new collective target for climate finance beyond 2025 at COP29. Lawmakers emphasize that this target should be equitable, adhere to the principle that polluters should bear the costs, and draw from diverse funding sources, including public, private, and innovative means. They reaffirm Parliament's call for a reliable EU financing strategy to ensure sufficient backing for the EU's climate finance obligations.

Gradually eliminate the use of fossil fuels and the

Members of the European Parliament are urging COP29 to send a clear message as a continuation of COP28's pledge to move away from the use of fossil fuels. The document emphasizes that ending reliance on fossil fuels is essential and can be achieved with current technology. The MEPs are calling on all nations to eliminate both direct and indirect subsidies for fossil fuels promptly and to redirect these funds towards efforts to combat climate change.

Implement global carbon-pricing strategies

Members of the European Parliament express disappointment that carbon-pricing strategies currently address just 24% of worldwide emissions, a figure insufficient to achieve the objectives of the Paris Agreement. They urge the European Commission to intensify efforts in persuading and assisting other nations to adopt or enhance carbon pricing systems, taking inspiration from the EU's own measures like its emissions trading system and the carbon border adjustment mechanism.

The resolution emphasizes the necessity for enhanced worldwide initiatives to tackle pollution from water, chemicals, and plastics. It also highlights the importance of decreasing methane emissions and those from international shipping, aviation, and agriculture.

Upcoming actions

The entire house is scheduled to vote on the resolution during the plenary session taking place on November 13-14.

Context

The 29th Conference of the Parties (COP29) is scheduled for November 11 to 22, 2024, in Baku, Azerbaijan. A Parliament delegation is set to participate in the event from November 18 to 22.

The 29th Conference of the Parties (COP29) seeks to establish a fresh collective target for funding international efforts to combat climate change. Meanwhile, nations are working on formulating new climate pledges under the Paris Agreement, which are due to be submitted by early 2025.

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