The China Mail - EU scrambles to seal climate deal ahead of COP30

USD -
AED 3.672502
AFN 63.000196
ALL 83.045552
AMD 377.608336
ANG 1.790083
AOA 916.999745
ARS 1383.1365
AUD 1.43213
AWG 1.8025
AZN 1.696767
BAM 1.692703
BBD 2.017085
BDT 122.889314
BGN 1.709309
BHD 0.375272
BIF 2964.437482
BMD 1
BND 1.280822
BOB 6.920277
BRL 5.3193
BSD 1.001532
BTN 93.628346
BWP 13.656801
BYN 3.038457
BYR 19600
BZD 2.014228
CAD 1.371515
CDF 2275.000405
CHF 0.78928
CLF 0.023138
CLP 913.630314
CNY 6.8864
CNH 6.91586
COP 3696.54
CRC 467.791212
CUC 1
CUP 26.5
CVE 95.432004
CZK 21.228963
DJF 178.340531
DKK 6.471195
DOP 59.449729
DZD 131.454091
EGP 51.964401
ERN 15
ETB 157.836062
EUR 0.86616
FJD 2.21445
FKP 0.749521
GBP 0.750815
GEL 2.715014
GGP 0.749521
GHS 10.917148
GIP 0.749521
GMD 73.506465
GNF 8778.549977
GTQ 7.671603
GYD 209.529662
HKD 7.83172
HNL 26.509205
HRK 6.524702
HTG 131.388314
HUF 340.851497
IDR 16991
ILS 3.109125
IMP 0.749521
INR 93.8122
IQD 1311.97909
IRR 1315624.999901
ISK 124.559881
JEP 0.749521
JMD 157.346743
JOD 0.708984
JPY 159.584028
KES 129.739685
KGS 87.447903
KHR 4001.973291
KMF 427.000235
KPW 900.003974
KRW 1509.115004
KWD 0.30657
KYD 0.834581
KZT 481.491739
LAK 21506.092917
LBP 89692.06536
LKR 312.41778
LRD 183.27376
LSL 16.894603
LTL 2.952739
LVL 0.60489
LYD 6.411466
MAD 9.358386
MDL 17.440975
MGA 4176.061001
MKD 53.348104
MMK 2099.452431
MNT 3566.950214
MOP 8.084003
MRU 40.089837
MUR 46.509602
MVR 15.460054
MWK 1736.722073
MXN 17.97235
MYR 3.939502
MZN 63.898088
NAD 16.894749
NGN 1356.239938
NIO 36.852081
NOK 9.58951
NPR 149.804404
NZD 1.72021
OMR 0.382195
PAB 1.001519
PEN 3.46252
PGK 4.323066
PHP 60.252942
PKR 279.628351
PLN 3.70525
PYG 6541.287659
QAR 3.662273
RON 4.408024
RSD 101.650468
RUB 84.452144
RWF 1457.231632
SAR 3.754897
SBD 8.05166
SCR 13.74181
SDG 600.999727
SEK 9.370501
SGD 1.2833
SHP 0.750259
SLE 24.574994
SLL 20969.510825
SOS 572.35094
SRD 37.487497
STD 20697.981008
STN 21.204227
SVC 8.762971
SYP 110.564047
SZL 16.900787
THB 33.050137
TJS 9.619362
TMT 3.51
TND 2.95786
TOP 2.40776
TRY 44.323503
TTD 6.794814
TWD 32.1128
TZS 2595.522995
UAH 43.875212
UGX 3785.603628
UYU 40.356396
UZS 12210.172836
VES 454.69063
VND 26322
VUV 119.226095
WST 2.727792
XAF 567.726608
XAG 0.015367
XAU 0.00023
XCD 2.70255
XCG 1.80494
XDR 0.706079
XOF 567.716781
XPF 103.216984
YER 238.598067
ZAR 17.126098
ZMK 9001.196659
ZMW 19.554625
ZWL 321.999592
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSD

    -0.2420

    22.658

    -1.07%

  • NGG

    -3.5400

    81.99

    -4.32%

  • BCE

    0.0600

    25.79

    +0.23%

  • GSK

    -0.5300

    51.84

    -1.02%

  • BTI

    -1.3500

    57.37

    -2.35%

  • RIO

    -2.5000

    83.15

    -3.01%

  • AZN

    -5.3300

    183.6

    -2.9%

  • RELX

    -0.4600

    33.36

    -1.38%

  • CMSC

    -0.2000

    22.65

    -0.88%

  • VOD

    -0.0900

    14.33

    -0.63%

  • RYCEF

    -1.2600

    15.34

    -8.21%

  • BP

    -1.0800

    44.78

    -2.41%

  • BCC

    -1.5600

    68.3

    -2.28%

  • JRI

    -0.3900

    11.77

    -3.31%

EU scrambles to seal climate deal ahead of COP30
EU scrambles to seal climate deal ahead of COP30 / Photo: © AFP/File

EU scrambles to seal climate deal ahead of COP30

EU environment ministers will Tuesday make a last-ditch attempt to reassert the bloc's climate ambitions by nailing down key emissions targets in the run-up to the UN's climate summit in Brazil.

Text size:

"To come empty-handed to Belem," where the COP30 talks are taking place from November 10 to 21, "would really undermine the EU's credibility," warned an EU diplomat.

Talks are expected to stretch into the night among the European Union's 27 member states, which have been haggling for months over two separate targets for slashing greenhouse-gas emissions: one for 2035 and the other for 2040.

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.

But after blazing a trail, the EU's political landscape has shifted to the right, and climate concerns have largely taken a back seat to defence and competitiveness.

Ministers' most urgent challenge on Tuesday is to reach a unanimous deal on an emissions target for 2035, known as a Nationally Determined Contribution (NDC), which Paris Agreement signatories are supposed to bring to the Brazil summit.

Beyond that, they hope 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, drawing criticism from environmental groups.

On Paris's list of demands are guarantees its nuclear sector would not lose out under green transition plans, funding for clean industries, and wiggle room on emissions should Europe's forests absorb less carbon than expected in years to come.

- 'Balancing act' -

To win over the staunchest sceptics, Tuesday's talks will cover 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 including France pushing for a higher threshold of five percent.

Some countries also want a review clause in the 2040 climate law, allowing the target to be reassessed every two years.

Environmental groups have been pushing back.

"Member States should not further undermine the proposals on the table through unnecessary loopholes," warned Sven Harmeling at Climate Action Network Europe.

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.

"It's a careful balancing act," summed up a second diplomat, who said countries "seem to be converging" on an agreement.

With the clock ticking down to COP30, 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, ministers are expected Tuesday to formalise that range as the bloc's legally binding NDC under the Paris Agreement.

"It's simply unthinkable that the EU would arrive in Belem without an NDC," said a French government source. "That would be a diplomatic disaster."

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.

S.Wilson--ThChM