“In Europe, and working united as Europeans, we have reached a balanced deal on the rules to turn the Paris Agreement into action,” said Commissioner for Climate Action and Energy Miguel Arias Canete. The European Union is playing a central role in the implementation of the Paris Agreement, working with both developed and developing countries and major economies – notably China – to boost global efforts to fight climate change. “The Paris rulebook is fundamental for enabling and encouraging climate action at all levels worldwide – and success here also means success for multilateralism and the rules-based global order.”
The EU is overseeing commitments being turned into concrete action, leaving no one behind in the transition to a climate-neutral future. The EU’s nationally determined contribution (NDC) under the Paris Agreement is to reduce greenhouse gas emissions by at least 40% by 2030 compared to 1990 under its wider climate and energy framework. All key legislation needed to meet the 2030 targets has already been adopted including the increased EU’s 2030 targets on renewable energy and energy efficiency.
The EU has started planning beyond 2030. Brussels has a strategic long-term vision for a prosperous, modern, competitive and climate-neutral European economy by 2050. The 2050 plan follows advice of numerous stakeholders and aims for sustainable growth and jobs as well as improving the life of EU citizens. The strategic vision is intended to kick-start an EU-wide debate, which should allow the EU to adopt a long-term strategy and submit it to the UNFCCC by 2020. The EU also remains committed to raising $100 billion a year by 2020 and through 2025 to finance climate action in developing world by combining public and private sources.