EU COP29 Position Negotiation

The European Union is finalizing its COP29 position, focusing on securing a new global climate finance target to replace the expiring $100 billion annual commitment and advocating for a 90% reduction in greenhouse gas emissions by 2040. The EU intends to push for increased funding for developing countries, encourage contributions from highly polluting nations like China, and seek specific phase-out dates for coal, gas, and oil.

• The EU aims to establish a new global climate finance target to succeed the $100 billion annual commitment that expires in 2025. The EU is the largest current contributor, providing more than $30 billion. Its strategy includes pushing for increased flows to developing countries—which the Climate Action Network estimates need $1 trillion annually—and advocating for contributions from highly polluting countries such as China.
• Regarding emissions and energy, the European Commission has proposed a target to reduce greenhouse gas emissions by 90% by 2040 compared to 1990 levels. At COP29, the EU intends to call for specific fossil fuel phase-out dates (coal by 2030, gas by 2035, and oil by 2040), prevent the misuse of Article 6 carbon credit mechanisms, and urge multilateral development banks like the IMF and World Bank to end fossil fuel-related finance.
• The EU's position on Nationally Determined Contributors (NDCs) involves requesting that countries update their pledges to reflect major climate targets and stronger emissions reductions to align with the 1.5°C global warming limit.

APA

Contributor, C. (2024). EU COP29 Position Negotiation. ClimaTalk. https://climatalk.org/2024/10/29/eu-cop29-position-negotiation/

Chicago

Contributor, ClimaTalk. EU COP29 Position Negotiation. ClimaTalk, 2024. https://climatalk.org/2024/10/29/eu-cop29-position-negotiation/.

Wikipedia

{{cite report |last1=Contributor |first1=ClimaTalk |title=EU COP29 Position Negotiation |publisher=ClimaTalk |date=29 October 2024 |url=https://climatalk.org/2024/10/29/eu-cop29-position-negotiation/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{contributor2024cop29, author = {Contributor, ClimaTalk}, title = {{EU COP29 Position Negotiation}}, institution = {ClimaTalk}, year = {2024}, month = oct, url = {https://climatalk.org/2024/10/29/eu-cop29-position-negotiation/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }