Wed. Dec 11th, 2024
Logo of the COP29 Climate Summit in Baku.
Logo of the COP29 Climate Summit in Baku.

Baku, 12 November 2024

Opening remarks by Commissioner Hoekstra at the COP29 Ministerial Dialogue ‘Scaling up Investment for Tripling Renewables and Doubling Energy Efficiency’

“Check against delivery”

Ladies and Gentlemen,

Thank you very much to the incoming COP Presidency for hosting us.

Let me thank all of you for joining us today for this Ministerial Dialogue, co-chaired by the COP28 and COP29 Presidencies and the European Commission.

We realised that in Dubai last year we managed to cover new ground.

We agreed that the age of fossil fuels simply must come to an end.

And we committed to what many including myself view as a bold course: tripling renewable energy capacity and doubling energy efficiency by 2030.

To me this commitment has always been not just a target but the best investment we can make.

Renewable energy is homegrown, it creates jobs, it strengthens our independence, and it is cheaper already than the dirtier alternatives.

Meeting these targets would cut global greenhouse gas emissions by 10 billion tonnes by the end of this decade — to put it into perspective that is more than the European Union’s total emissions over three years.

It is a very ambitious vision, but it can be done. In Europe, last year, we reduced our emissions by 8% and that was thanks to a rapid expansion in the domain of renewables.

Today, over half of Europe’s electricity comes from wind and solar, surpassing all fossil fuels combined.

Yet if you take a more global look you will find emissions still rose by 1.3% last year.

It shows where our common challenge is.

Now we must accelerate and we must turn our clean energy goals into tangible projects on every continent and in every of our economies.

Let me briefly focus on three areas where we can achieve more together.

I will start by looking into the energy grids.

Tripling renewables and electrifying the world will require substantial grid upgrades.

The International Energy Agency projects we need 25 million kilometres of new and improved grid lines by the end of this decade.

Europe is investing in this through our 300 billion euro Global Gateway strategy, which it meant for the world at large.

That means we are concretely funding critical grid projects worldwide, from modernising infrastructure in Nepal to building new high-voltage transmission lines connecting Ecuador and Peru. This scope is global and broader than that.

Second domain, critical minerals.

To power the grid with clean technologies, we need a stable and, ethical supply of minerals.

Lithium, cobalt, and rare earths are the backbone of batteries, turbines, and solar panels.

The assessment is that global demand for these minerals is set to triple by 2030, and for some, like lithium, demand could increase fortyfold by 2040.

Huge and something we do have to take into account.

Mining and processing these resources must be done in a way that is sustainable and benefits local communities.

As co-chair of the UN Panel on Critical Energy Transition Minerals,

Europe is committed to setting high standards for our supply chains.

For instance in Europe, we have received 170 proposals from projects worldwide, which are focused on production, refining, and recycling.

Only those that do meet our environmental and social standards will receive support.

This is how we create a real opportunity for production countries and for their people to benefit from the riches in their land.

Third and finally, investment.

Renewables, grids, and minerals all need substantial investment.

Europe is and will continue to be the world’s largest provider of climate finance, with over 31 billion dollars in public finance in 2023.

But public financing alone cannot do the heavy lifting.

We need to make sure that private sector financing comes in, that it scales up and matches the urgency of this transition we all face.

Today, 760 million people still lack access to electricity, most of them are from Sub-Saharan Africa – a region with vast clean energy potential.

It is our joint task to support them in reducing capital costs to make sure and allow the transition everywhere across the globe.

President von der Leyen will announce together with South Africa and Global Citizen a new initiative on this next week at the G20 leaders’ summit.

Ladies and Gentlemen,

Tripling renewables, doubling energy efficiency — these are ambitious targets, they can and will make a real difference if we live up to them.

Reaching them will cut our dependence on fossil fuels and bring us much closer to net-zero.

But up to us to make sure we do manage this transition well, so that everyone can harness the benefits of the clean energy revolution. That is the name of the game.

We need to create a space for continuous dialogue, and here you can count on Europe.

I now like to invite our esteemed ministerial and private sector speakers to share their projects, thoughts and goals.

Thank you very much.

Source – EU Commission

 


Remarks by President Charles Michel at the World Leaders Climate Action summit in Baku

Baku, 12 November 2024

Le monde est sur le fil du rasoir : guerre d’agression de la Russie contre l’Ukraine, guerre à Gaza et crise tragique au Proche-Orient, guerres civiles au Soudan. Ces conflits et de nombreux autres entraînent des désastres humanitaires pour les populations civiles et polarisent nos sociétés partout dans le monde. L’impérialisme violent, la vengeance éternelle et le châtiment collectif sont des poisons qui nous mettent tous en danger. L’Union européenne croit profondément dans un monde et un ordre fondés sur des règles, la force de la loi et pas la loi de la force, la force des règles qui doivent être décidées ensemble.

Chaque semaine, quelque part dans le monde, nous faisons face aux conséquences dévastatrices des changements climatiques. Cette menace climatique est existentielle pour l’espèce humaine et nous portons la responsabilité, nous, espèce humaine, de cette guerre contre la nature. Et c’est vrai, certains portent plus que d’autres cette responsabilité, les pays dits développés. C’est’ ainsi que les accords de Paris doivent constituer notre traité de paix avec la nature. Le principe de coopération doit être le mode de mise en œuvre de cet accord. Courage et pas procrastination, solidarité plutôt qu’égoïsme, ambition plutôt que renoncement, choisir l’instinct de survie plutôt que le suicide collectif.

Vous pouvez compter sur l’Union européenne. Nous sommes au rendez-vous du financement : 31 milliards de dollars dans le cadre de la promesse des 100 milliards, c’est plus que la part équitable de l’Union européenne et nous encourageons tous nos collègues à suivre cet exemple, y compris les pays du G7 et des économies émergentes. Nous insistons sur la nécessité d’inclure une base plus large et nous pensons qu’il faut élargir le nombre des contributeurs, en tant que condition préalable pour réaliser un nouvel objectif ambitieux. Nous soutenons une approche à plusieurs niveaux. Nous croyons à la tarification carbone en tant que puissant levier et nous croyons également que le commerce international et les banques de développement doivent être mobilisés pour respecter cet accord.

L’Euro est la monnaie du climat. L’Euro est la monnaie du financement par des obligations vertes, et plus d’un tiers d’entre elles sont émises en euros. Nous sommes déterminés à soutenir les pays en développement, nous le faisons au moyen des partenariats pour une transition énergétique juste avec, notamment, l’Afrique du Sud, l’Indonésie et d’autres pays que nous soutenons.

Il y a quelques semaines, à New York, et je conclus, nous avons déjoué les pronostics pessimistes en concluant un accord : le Pacte pour le futur. Dans ce moment sombre pour l’ordre multilatéral fondé sur des règles, ce pacte offre un peu de lumière. Je forme le vœu que cette COP soit celle de la confiance, de la ténacité et des actes qui se joignent aux paroles. Vous pouvez compter sur l’Union européenne. Je vous remercie.

Visit the meeting page

Source – EU Council

 

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