EU and US can shut the local weather finance hole collectively, says von der Leyen

While each nation has a duty, main economies do have a particular responsibility to the least developed and most weak international locations to sort out local weather change, European Commission President Ursula von der Leyen mentioned.

In her state of the union deal with (SOTEU) within the European Parliament on September 15, von der Leyen mentioned the occasions of the summer time solely served to elucidate why the bloc must step up efforts to cut back emissions.

“We saw floods in Belgium and Germany. And wildfires burning from the Greek islands to the hills in France. And if we don’t believe our own eyes, we only have to follow the science,” she mentioned, reminding that the UN just lately printed the IPCC report, the Intergovernmental Panel on Climate Change. It is the authority on the science of local weather change. “The report leaves no doubt. Climate change is man-made. But since it is man-made, we can do something about it. As I heard it said recently:  It’s warming. It’s us. We’re sure. It’s bad. But we can fix it. And change is already happening. More electric vehicles than diesel cars were registered in Germany in the first half of this year.  Poland is now the EU’s largest exporter of car batteries and electric buses. Or take the New European Bauhaus that led to an explosion of creativity of architects, designers, engineers across our Union. So clearly something is on the move,” the EU Commission President mentioned.

Turning to the European Green Deal, she famous that the EU Commission final yr set a goal of not less than 55% emission discount by 2030 and since then the bloc has turned its local weather objectives into authorized obligations. “We are the first major economy to present comprehensive legislation in order to get it done. You have seen the complexity of the detail. But the goal is simple. We will put a price on pollution. We will clean the energy we use. We will have smarter cars and cleaner airplanes. And we will make sure that higher climate ambition comes with more social ambition. This must be a fair green transition. This is why we proposed a new Social Climate Fund to tackle the energy poverty that already 34 million Europeans suffer from,” von der Leyen mentioned, noting that she counts on each Parliament and Member States to maintain the package deal and to maintain the ambition collectively. “When it comes to climate change and the nature crisis, Europe can do a lot. And it will support others. I am proud to announce today that the EU will double its external funding for biodiversity, in particular for the most vulnerable countries. But Europe cannot do it alone,” she mentioned, stressing that the COP26 in Glasgow can be a second of reality for the worldwide neighborhood.

The Commission President famous that main economies – from the US to Japan – have set ambitions for local weather neutrality in 2050 or shortly after. “These need now to be backed up by concrete plans in time for Glasgow. Because current commitments for 2030 will not keep global warming to 1.5°C within reach. Every country has a responsibility!” she mentioned.

The objectives that China’s President Xi Jinping has set for his nation are encouraging, von der Leyen mentioned. “But we call for that same leadership on setting out how China will get there. The world would be relieved if they showed they could peak emissions by mid-decade – and move away from coal at home and abroad. But while every country has a responsibility, major economies do have a special duty to the least developed and most vulnerable countries. Climate finance is essential for them – both for mitigation and adaptation,” she mentioned.

In Mexico and in Paris, the foremost economies dedicated to offer $100 billion s a yr till 2025 to the least developed and most weak international locations. “We deliver on our commitment. Team Europe contributes 25 billion dollars per year. But others still leave a gaping hole towards reaching the global target. Closing that gap will increase the chance of success at Glasgow. My message today is that Europe is ready to do more. We will now propose an additional 4 billion euro for climate finance until 2027. But we expect the United States and our partners to step up too,” she mentioned, including, “Closing the local weather finance hole collectively – the US and the EU – can be a robust sign for world local weather management. It is time to ship.

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