“Check against delivery”
Ladies and gentlemen,
We were all here the last few days, so we all know how difficult it was. And yet, we do feel that the results of today are extremely important. We are living in a time of truly challenging geopolitics. We should simply not have the illusion that the world will soon get better.
Sealing a deal is truly exceptional. Last year I said that COP28 was the beginning of the end of fossil fuels. And what I would like to add now is that, in my view, COP29 will be remembered as the start of a new era for climate finance.
The EU and its Member States will continue to play a leading role. We have worked hard with all of you to ensure that there is significantly more money on the table. We are tripling the $100 billion goal.
We feel it is ambitious. It is needed. It is realistic and it is achievable.
We are confident that this will be a tale of delivery. And we have worked hard to support in particular those who are the most vulnerable. Access to finance will improve. We have agreed to further boost adaptation finance and that is an area where public money is really the driving force.
Chair,
It is also a matter of fairness and of importance to us, that all those with the ability to do so should contribute. And therefore, it is good, given the size of the problem, that we enlarge the contributor base on a voluntary basis. We are also seeing a historic expansion of the very important role of multilateral development banks in supporting this transition. This simply will bring much more private money on the table. And that is what we need. With these funds and this structure, we are confident we will reach the 1,3 trillion objective.
Ladies and gentlemen,
Another topic that was on our minds this week is reducing emissions. It was not the focus of this COP, but we wanted more. Because the world needs more of it. Even though the UAE consensus was attacked, we did move forward, even though it was just a bit. We did manage to safeguard Dubai and take some steps forward.
It is less than what we have liked, but it is better than we feared. We are unhappy to lose a year, but we are happy not to lose this fight.
It is not over. We are looking forward to redoubling our efforts until COP30 – we all need to come to Belém with ambitious new Nationally Determined Contribution.
Ladies and gentlemen,
May I also say that we did deliver on Article 6. This is a leap forward as well. We have witnessed the historical conclusion of the rulebook for carbon markets. We now have standards with a UN stamp of approval on it.
This will drive investment, raise ambition, and bring transparency and higher standards.
Dear Friend,
This COP delivered on climate finance. On a goal and an increased donor base. It also delivered on creating trusted rules for international carbon markets. Surely, we would have wanted more on mitigation. And stronger language throughout the texts on gender and human rights. I will come to that in a second.
But I have seen a very complex, yet truly impressive week of diplomacy. Of rising to the occasion. Of exchanging with partners across the globe. Not only to those we agree, but particularly to those with whom we do not yet agree. Of strengthening our multilateral processes.
And indeed negotiations, conversations are always difficult, but I do trust that we can deliver again next year. For everyone in all parts of the world.
Dear Chair,
Let me finally say that we were trying to indicate our desire to speak on human rights and gender earlier.
We would like you all to know that we lend our voice in the strongest possible way to those who have earlier spoken in the defence and further enhancement of human rights. It needs to be mainstreamed and we need to have this language across the agenda and everywhere in the document.
Thank you for all your efforts.
Source – EU Commission