MEPs at the G20: increase your climate change targets ahead of COP27

On Monday, the Committee on the Environment, Public Health and Food Safety adopted a resolution setting out its demands to the UN Climate Change Conference COP27 in Egypt from 6 to 18 November 2022.

MEPs describe the climate and biodiversity crisis as one of the most important challenges facing humanity. They are concerned about the findings of UNEP’s 2021 Emissions Gap Report, which states that even if the most ambitious national climate targets for 2030 announced at COP26 in Glasgow are implemented, the world is on track for a 2.7°C temperature rise. That’s well above that Paris Agreement aims to limit global warming to well below 2°C and aim for 1.5°C.

The committee says Russia’s war against Ukraine makes it even more urgent that we transform the world’s energy system. But MEPs are concerned that many national climate plans are delaying significant changes until after 2030. Urgent action must be taken this decade, MEPs urge, while noting that many long-term net-zero emissions pledges are worryingly ambiguous and opaque.

G20 and EU must raise their 2030 climate targets

As they expect the EU’s Fit for 55 in 2030 package to meet the EU’s 2030 target, MEPs call on the EU and all G20 countries to show leadership and commit to more ambitious greenhouse gas reduction targets ahead of the COP27 obligation. You should also update theirs. Nationally Determined Contributions (NDCs) to close the gap and limit global warming to 1.5°C.

Climate finance for developing countries

The resolution underlines the importance of climate finance for successful climate action and recalls that the EU is the main contributor. MEPs call on all developed countries, including the EU, to ensure that the climate finance target of USD 100 billion per year is met, that funds are disbursed from 2022 and on average between 2020 and 2025.

MEPs also recall Parliament’s position on the Carbon Border Adjustment Mechanism (CBAM) ensuring that the EU provides financial support with a monetary value at least equal to the proceeds from the sale of CBAM emission allowances to support the decarbonisation efforts of least developed countries.

Finally, MEPs welcome the establishment of the Glasgow Dialogue on Loss and Damage which should focus on financing developing countries, clearly prioritising grants over loans, to prevent, minimise and manage loss and damage related to the adverse effects of climate change.

The resolution was adopted by 66 votes to 10, with 3 abstentions.

Next steps

The resolution will be voted on in plenary during the plenary session from 17 to 20 October. A delegation from Parliament will attend COP27 from 13 to 18 November.

Background

Parliament has pushed for more ambitious EU climate and biodiversity legislation, declaring a climate emergency on 28 November 2019. In June 2021, Parliament passed European climate law the transformed European Green Deal The EU’s political commitment to climate neutrality by 2050 becomes a binding commitment for the EU and member states. It also increases the EU’s target to reduce greenhouse gas emissions by 2030 from 40% to at least 55% compared to 1990 levels. Parliament is currently negotiating this with member states. “Fit for 55 in the 2030 package” so that the EU can reach the most ambitious target for 2030.

Source: European Parliament News