The UN climate conference (COP24) in Katowice, Poland, concluded with the adoption of a clear rulebook to make the Paris Agreement on climate change work in practice across the world. The completion of the rulebook was the EU's top objective in these negotiations.
The Paris rulebook will enable the Parties to the Paris Agreement to implement, track and progressively enhance their contributions to tackling climate change, in order to meet the Agreement's long-term goals.
The EU's nationally determined contribution (NDC) under the Paris Agreement is to reduce greenhouse gas (GHG) emissions by at least 40% by 2030 compared to 1990, under its wider 2030 climate and energy framework. All key legislation for implementing the 2030 emissions target has already been adopted, including the increased EU's 2030 targets on renewable energy and energy efficiency – which if fully implemented could lead to an EU GHG emissions cut of some 45% by 2030, the Commission has estimated – as well as the modernisation of the EU Emissions Trading System and 2030 targets for all Member States to cut emissions in sectors such as transport, buildings, agriculture and waste.
Back in November 2016 – just before the Paris Agreement entered into force – the Commission presented the Clean Energy for All Europeans Package, aimed at setting the most advanced regulatory framework that will make the European energy sector more secure, more market-oriented and more sustainable.
EU ambition also goes beyond 2030. Following the invitation by the EU leaders, the Commission on 28 November presented a strategic long-term vision for a prosperous, modern, competitive and climate-neutral European economy by 2050.
The strategic vision, which follows wide stakeholder consultation and takes into account the recent IPCC special report on 1.5°C, is an ambitious vision for ensuring a prosperous, modern, competitive and secure economy, providing sustainable growth and jobs and improving the quality of life of EU citizens.
The strategic vision, which the Commission presented to global partners at COP24, will kick-start an EU-wide debate which should allow the EU to adopt a long-term strategy and submit it to the UNFCCC by 2020. To this end, the European Council invites the Council to work on the elements outlined in the Communication.
The EU also remains committed to the collective global goal to mobilise USD 100 billion a year by 2020 and through to 2025 to finance climate action in developing countries, from a variety of public and private sources. In 2017, the EU, its Member States and the European Investment Bank together provided a total EUR 20.4 billion in climate finance, around a 50% increase from 2012.
Read the all the outcomes on EC press release database.