Brussels, 1 November 2021
Dear President, fellow leaders,
I know all of us in this room want to be on the right side of history. This is why I call on all of us to do what is necessary for keeping the limit of 1,5° C warming within reach. This is our opportunity to write history.
More than that, it is our duty. Europe will spare no effort to become the first climate-neutral continent. But at this COP, we all must speed up our race to net zero.
First, we have to give strong commitments to reduce emissions by 2030; Net zero by 2050 is good, but not enough. We need real action during this decade.
Second, we need to agree on a robust framework of rules, for example, to make global carbon markets a reality.
And point number 3: we must mobilize climate finance for supporting vulnerable countries to adapt and leapfrog to clean growth.
The EU will fully contribute to achieve our global goals on adaptation. With close to 27 billion USD in 2020, Team Europe is already the largest provider of climate finance. Almost half of our finance is for adaptation or for both adaptation and mitigation. We have pledged an additional 5 billion dollars up to 2027 from the EU budget. And we will double our funding for biodiversity, especially in vulnerable countries.
Fellow leaders,
ladies and gentlemen,
the eyes of the world are on us. This Glasgow COP is a moment of truth for the global community. We must make it a success. We owe this to our children!
Source – EU Commission: https://ec.europa.eu/commission/presscorner/detail/en/SPEECH_21_5741