The China Mail - EU scrambles to seal climate targets before COP30

USD -
AED 3.672502
AFN 64.00009
ALL 82.13669
AMD 367.799411
ANG 1.790403
AOA 917.49907
ARS 1494.154838
AUD 1.443418
AWG 1.8025
AZN 1.697519
BAM 1.709832
BBD 2.015606
BDT 123.389765
BGN 1.69088
BHD 0.377337
BIF 2976.731174
BMD 1
BND 1.291479
BOB 6.930377
BRL 5.168703
BSD 1.000765
BTN 95.340217
BWP 13.497694
BYN 2.903642
BYR 19600
BZD 2.01272
CAD 1.420885
CDF 2245.9999
CHF 0.804235
CLF 0.023412
CLP 921.439811
CNY 6.789101
CNH 6.79028
COP 3345.24
CRC 455.934359
CUC 1
CUP 26.5
CVE 96.399815
CZK 21.153899
DJF 178.209079
DKK 6.537195
DOP 59.284581
DZD 133.424841
EGP 49.183002
ERN 15
ETB 160.478228
EUR 0.87459
FJD 2.26045
FKP 0.748895
GBP 0.749305
GEL 2.635028
GGP 0.748895
GHS 11.368574
GIP 0.748895
GMD 72.501691
GNF 8776.845704
GTQ 7.637499
GYD 209.336382
HKD 7.84285
HNL 26.786034
HRK 6.589801
HTG 130.896438
HUF 309.254498
IDR 17987
ILS 2.99865
IMP 0.748895
INR 95.223402
IQD 1310.97521
IRR 1375949.999717
ISK 125.929774
JEP 0.748895
JMD 158.434973
JOD 0.709028
JPY 161.773971
KES 129.409607
KGS 87.447698
KHR 4007.693653
KMF 431.000353
KPW 900.00035
KRW 1533.855053
KWD 0.31029
KYD 0.834058
KZT 473.271231
LAK 22597.482077
LBP 89618.073011
LKR 335.205739
LRD 181.630619
LSL 16.232733
LTL 2.952741
LVL 0.60489
LYD 6.414443
MAD 9.358851
MDL 17.603525
MGA 4242.781894
MKD 53.883578
MMK 2099.883338
MNT 3582.147735
MOP 8.08442
MRU 39.940374
MUR 47.05034
MVR 15.460093
MWK 1735.405329
MXN 17.47702
MYR 4.074499
MZN 63.91022
NAD 16.232662
NGN 1370.179906
NIO 36.824459
NOK 9.83595
NPR 152.547856
NZD 1.757545
OMR 0.385881
PAB 1.000782
PEN 3.405239
PGK 4.396728
PHP 61.502502
PKR 278.231635
PLN 3.754599
PYG 6084.846895
QAR 3.658323
RON 4.568304
RSD 102.244022
RUB 77.049216
RWF 1465.180328
SAR 3.758562
SBD 8.058541
SCR 13.422988
SDG 600.504135
SEK 9.64962
SGD 1.29211
SHP 0.746601
SLE 24.349847
SLL 20969.503664
SOS 571.978142
SRD 37.565984
STD 20697.981008
STN 21.419735
SVC 8.756737
SYP 110.532098
SZL 16.229755
THB 33.197502
TJS 9.276572
TMT 3.51
TND 2.953586
TOP 2.40776
TRY 46.818297
TTD 6.782536
TWD 32.062901
TZS 2625.618053
UAH 44.570629
UGX 3652.720525
UYU 40.249681
UZS 11988.460025
VES 638.90327
VND 26297
VUV 118.93159
WST 2.77318
XAF 573.514317
XAG 0.016165
XAU 0.00024
XCD 2.70255
XCG 1.803629
XDR 0.713221
XOF 573.476712
XPF 104.261467
YER 237.049927
ZAR 16.248901
ZMK 9001.199865
ZMW 18.388302
ZWL 321.999592
  • CMSD

    -0.0300

    22.15

    -0.14%

  • CMSC

    0.0400

    21.99

    +0.18%

  • BCC

    0.4500

    75.93

    +0.59%

  • NGG

    2.6700

    82.85

    +3.22%

  • JRI

    0.0600

    13

    +0.46%

  • RBGPF

    2.5400

    68.15

    +3.73%

  • GSK

    2.3600

    53.66

    +4.4%

  • RIO

    1.0700

    94.42

    +1.13%

  • AZN

    11.2900

    195.15

    +5.79%

  • BCE

    0.4000

    21.42

    +1.87%

  • RYCEF

    0.5400

    19.68

    +2.74%

  • BTI

    1.2100

    61.77

    +1.96%

  • VOD

    0.1400

    13.15

    +1.06%

  • BP

    1.2500

    37.4

    +3.34%

  • RELX

    0.5500

    31.93

    +1.72%

EU scrambles to seal climate targets before COP30

EU scrambles to seal climate targets before COP30

EU ministers hunkered down Tuesday in a push to seal key emissions targets before the UN's COP30 summit in Brazil -- and reassert the climate ambitions of the 27-nation bloc.

Text size:

The European Union's member states have been haggling for months over two separate targets for slashing greenhouse-gas emissions: one for 2035 they must bring to the UN climate talks, and the other for 2040.

"This is a crucial day," French Environment Minister Monique Barbut told reporters in Brussels -- warning that turning up empty-handed at the November 10-21 talks in Brazil's city of Belem would spell "disaster" for the EU.

Behind only China, the United States and India in terms of emissions, the EU has been the most committed of the major polluters to climate action and has already cut emissions by 37 percent compared to 1990 levels.

But after blazing a trail, the EU's political landscape has shifted right, and climate concerns have taken a backseat to defence and competitiveness -- amid concerns in some capitals that greening Europe's economy is harming growth.

"It's very, very difficult," said an EU diplomat, summing up the state of play in Brussels late Tuesday.

Denmark, which holds the bloc's rotating presidency, was understood to be working hard to win over Italy, one of the countries most sceptical of the proposed targets.

The most urgent challenge for ministers is to reach a unanimous deal on an EU emissions target for 2035, known as a Nationally Determined Contribution (NDC), which Paris Agreement signatories are supposed to bring to the COP30.

"I want our heads of state and government to go to Brazil with a very strong mandate, a clear leadership role for Europe," German Environment Minister Carsten Schneider declared on arrival -- saying the decision must be "today".

Beyond the Belem target, the EU hopes to lock in the support of a weighted majority of countries for the next big climate target set out by the European Commission on the path to carbon neutrality by 2050.

The EU executive said in July it wanted to cut emissions by 90 percent by 2040, compared to 1990 levels -- a major step towards net zero.

But the bloc's capitals have yet to endorse that next step, which would require sweeping changes to industry and daily life at a time of growing concern over adverse impacts on Europe's economy.

Spain and the Nordic countries support the 2040 proposal, as does Germany, with some caveats. But Hungary, Poland, the Czech Republic and Italy remain opposed, citing risks to their industrial sectors.

Heavyweight France, meanwhile, has kept observers guessing on its position -- demanding guarantees its nuclear sector would not lose out under green transition plans and wiggle room on emissions should Europe's forests absorb less carbon than expected.

- 'Not pretty' -

To win over the staunchest sceptics, Tuesday's talks were covering a range of "flexibilities" for member states, including letting countries count carbon credits purchased to finance projects outside Europe.

A commission pledge for credits to account for up to three percent of a nation's 2040 emission cuts failed to win over hardliners, with countries pushing for a higher threshold of five percent.

Some also want the overall objective reassessed every two years.

Regarding the 2035 target for Belem, EU countries in September agreed to a non-binding "statement of intent" for the bloc to cut emissions by between 66.25 percent and 72.5 percent by 2035.

To avoid deadlock just days before COP30, ministers are expected Tuesday to formalise that range as the bloc's legally binding NDC under the Paris Agreement.

Environmental groups have accused states of undermining the bloc's climate ambitions with loopholes.

But a diplomat involved in the process defended the compromise shaping up in Brussels, while conceding it was "not necessarily pretty".

"In the muddy, messy, nasty real world out there, we are trying to achieve something good," said the diplomat, granted anonymity to discuss the sensitive deliberations.

The EU insists it remains committed to its role as global climate leader, having mobilised 31.7 billion euros ($36.6 billion) in public climate finance in 2024, making it the world's largest donor.

A.Zhang--ThChM