In a bipartisan compromise, lawmakers agreed to weaker language on the future of coal, oil and gas, but strong support for letting major polluters like China contribute to global aid programs for poor countries. There was also sharp criticism of Azerbaijan’s choice as a host country. country.
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The European Parliament’s Environment Committee is calling on the EU to get more major economies and polluting countries to contribute to the Global Climate Adaptation Fund at next month’s COP29 summit, but it is clear that oil and gas will There was little involvement in the withdrawal.
The centerpiece of the upcoming Baku Summit will be the creation of new collective quantitative targets for climate finance for post-2025, which will help countries in the Global South, in particular, adapt to a climate that is already 1.3 degrees warmer on average than before 2025. ”. Work toward the industrial age and invest in green energy and other sustainable development.
In a draft resolution adopted by 54 votes to 23 on Monday night, MEPs cited estimates that as much as $1 trillion would be needed each year, and said the fund would “support the evolving financial capacity of the parties. It must encompass a broad base of contributors that reflects historical emissions levels.” ”.
This is intended to replace the $100 billion (€92.5 billion) per year required of some developed countries under the 2015 Paris Agreement. European parliamentarians are clearly referring to the major economic powers, particularly China and other so-called BRICS countries, which are still classified as “developing countries” for the purposes of global climate finance (although donors ).
But despite their bullish rhetoric on finances, lawmakers were particularly bearish on another key issue in Baku: the thorny issue of phasing out fossil fuels.
The two leaders agreed that it was “necessary and technically feasible” and COP29 echoed last year’s Dubai summit, which called for countries to take steps to “transition from fossil fuels to renewable energy.” He said the country needed to send a “clear signal” that it was serious about its efforts. Improve energy efficiency in a fair, orderly, and equitable manner. ”
However, they stopped short of calling for specific phase-out dates for the use of coal, oil, and gas. This fact was blamed by Green MP Lena Schilling on the expansion of the conservative EPP group and further right-wing factions.
“From a climate activist and scientific point of view, the EU needs a clear commitment to phase out fossil fuels and raise its own climate targets by 2040,” Schilling said. “This is also important to establish trust and a strong negotiating position with other countries during COP negotiations.”
The European Commission will propose new emissions reduction targets for 2040 early next year, with climate change commissioner Wopke Hoekstra pledging to push for targets at least 90% below 1990 levels. .
The Environment Committee harshly criticized the selection of Azerbaijan as the host country of COP29, stating that oil and gas account for more than 90% of exports and that there are plans for expansion, and that Mukhtar Babaev, the summit’s president-designate, He pointed out that he had worked for the national oil company for decades. Sokar. He also emphasized his “deep concerns about the human rights situation” in the country.
The European Parliament is sending a 15-member bipartisan delegation to the summit in Baku, but its role is primarily monitoring, with the European Commission leading negotiations under a mandate agreed by EU governments last week. are. The Environment Committee said Parliament “should be an integral part of the EU delegation at COP29, given that it has to agree to international agreements.”
The full European Parliament is scheduled to vote on the resolution on November 13 or 14, a few days after the start of a two-week summit in the Azerbaijani capital.
