- All G20 countries should be climate neutral by 2050
- At least $100bn in climate finance per year for developing countries
- Five-year timeframe needed to accelerate the pace of climate action
The Environment Committee calls on all countries to implement a green recovery and increase their 2030 climate targets in line with the Paris Agreement.
Ahead of the UN COP26 Climate Change Conference in Glasgow from 31 October to 12 November 2021, on Tuesday the Environment, Public Health and Food Safety Committee has adopted its input to the COP26, with 60 votes for, 15 votes against and 3 abstentions.
In their resolution, MEPs express concern that the targets announced in Paris in 2015 would result in warming well above three degrees by 2100 compared to pre-industrial levels. They say that the EU must remain a world leader in the fight against climate change and that MEPs will work to ensure that the EU’s “Fit for 55 in 2030” climate package is fully in line with the Paris Agreement.
To accelerate the pace of climate action, MEPs wants the EU to support a five-year timeframe for all countries instead of the current ten-year plan. They also say that all direct and indirect fossil fuel subsidies should be phased out in the EU by 2025 and call on all other countries to take similar measures.
MEPs recall that biodiversity plays a crucial role in enabling humans to combat and adapt to global warming and stress that nature-based solutions are win-win solutions, ones which involve protecting, restoring and sustainably managing ecosystems.
G20 must lead the way
MEPs say that all G20 nations should show global leadership and commit to achieving climate neutrality by 2050 at the latest. They also call on the Commission to create an international climate club with other major greenhouse gas (GHG) emitters with the aim of setting common standards and raising ambition across the globe through a common carbon border adjustment mechanism.
They welcome the return of the US to the Paris Agreement and President Biden’s commitment to cut US GHG emissions in half by 2030 compared to 2005. MEPs expect concrete policy measures and financing to meet this goal.
While MEPs acknowledge China’s willingness to be a constructive partner in global climate negotiations, it is concerned with the country’s dependency on coal and underlines that China’s climate targets should cover all GHG emissions and not only carbon dioxide emissions.
More financial support to fight climate change
MEPs say that developed countries must deliver on their promise to raise at least $100bn in climate finance per year for developing countries, increasing that amount from 2025, when emerging economies should also start to contribute. A roadmap outlining each developed country’s fair contribution to this financing plan should be agreed. They also want to ensure that all developing countries can participate in COP26 in spite of COVID-19.
The resolution will be voted by all MEPs during the plenary session 18-21 October.
Parliament has been pushing for more ambitious EU climate and biodiversity legislation and declared a climate emergency on 28 November 2019. In June 2021, the European Climate Law was adopted by Parliament. It transforms the European Green Deal’s political commitment to EU climate neutrality by 2050 into a binding obligation for the EU and member states. It also increases the EU’s target for reduction of greenhouse gas emissions by 2030 from 40% to at least 55%, compared to 1990 level. In July 2021, the Commission presented the “Fit for 55 in 2030” package in order to enable the EU to reach the more ambitious 2030-target.