EU Parliament Delegation to Attend COP29 in Baku, Advocating for Equitable Climate Financing Post-2025
Baku (Brussels Morning Newspaper) – A delegation from the European Parliament will participate in COP29, the upcoming UN Climate Change Conference in Baku, Azerbaijan, with a key focus on pushing for a fair and diversified approach to climate finance post-2025.
The delegation, led by MEP Chair Lídia Pereira of the European People’s Party (EPP) and Vice-Chair MEP Mohammed Chahim of the Progressive Alliance of Socialists and Democrats (S&D), will be in Baku from 18 to 22 November 2024. Both Pereira and Chahim hold prominent roles in the European Parliament’s Committee on Economic and Monetary Affairs and the Committee on the Environment, Public Health, and Food Safety, respectively.
As outlined by the European Parliament, members of the delegation will engage in discussions with ministers, parliamentarians, international climate leaders, civil society representatives, and other stakeholders to address global climate challenges.
Key Demands in the EU Parliament’s COP29 Resolution
Ahead of COP29, during its November session, the European Parliament adopted a resolution outlining its expectations for the conference. Spearheaded by the Committee on the Environment, Public Health, and Food Safety (ENVI), the motion was approved with 429 votes in favor, 183 against, and 24 abstentions.
The resolution emphasizes the need for a new collective approach to climate finance post-2025 that is socially just and in line with the “polluter pays” principle. It advocates for a mix of public, private, and innovative financial sources to help fund climate action globally.
Additionally, the European Parliament urged major global economies, both developed and emerging, to contribute financially to climate initiatives, especially those with high greenhouse gas emissions and robust GDPs. The resolution calls on the EU to strengthen its green diplomacy efforts and promote carbon pricing mechanisms, including the EU’s Emissions Trading System (ETS) and the Carbon Border Adjustment Mechanism (CBAM).
MEPs believe that such actions will help create an international level playing field, prevent carbon leakage (where companies relocate to countries with looser climate regulations), and enhance public support for climate measures.
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Brussels Morning is an independent, Belgium-based online newspaper that provides unique coverage of international and European affairs with a strong focus on EU policies and key developments across Member States.
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