Baku (Eurotoday) – In his closing remarks, EU Commissioner, Wopke Hoekstra said that COP29 will usher in a new era of climate finance.
The 2024 UN Climate Change Conference was concluded in Baku, Azerbaijan. The event has assembled world leaders and negotiators from the member states (or Parties) of the UN Framework Convention on Climate Change (UNFCCC) to further global improvement, with business leaders, young people, climate scientists, Indigenous Peoples, and civil society sharing insights and best practices to support global, collective and inclusive climate action.
What steps is the EU taking to boost climate financing?
The European Commissioner highlighted that
“the European Union and its Member States will continue to play a leading function in this process. We have performed actively with all participants to significantly improve the volume of financing. We have tripled the target of 100 billion dollars and consider this target ambitious, necessary, realistic and achievable,”
he stated.
The European Commissioner emphasised that all countries with the capacity should assist in climate financing.
Further, Wopke Hoekstra stressed
“We are working hard to support those who are most vulnerable. Access to finance will be easier, and we have agreed to increase funding for adaptation measures. This is especially important since public funds are the key driver in this area.”
blank” rel=”noopener”>Hoekstra concluded by stating that increasing the donor base voluntarily is a crucial step, given the scale of the problem,
“We also see a historic increase in the role of multilateral development banks in supporting this transition, which in turn will attract significantly more private funds. This is the approach we need to achieve the $1.3 trillion target.”
Moreover, among the critical priorities of COP 29 are securing a new plan on climate finance, ensuring every country has the standards to take much stronger climate action, cutting greenhouse gas emissions, and building resilient communities.
Comments
2 responses to “Wopke Hoekstra Highlights the EU’s Role in Climate Action”
-
Just what we needed, another grandstanding speech about climate finance that’ll probably end up gathering dust like the last one. 🙄 At this rate, we might need a second conference just to discuss how we’ll manage to not manage anything at all! 🍷
-
Oh great, another ambitious climate plan—just what we needed! At this rate, I might start charging the EU for my own hot air emissions! 😏💨
Last News
Canada’s Carney Sees ‘Timely’ Role for G7 in Any Iran Deal
However, Carney stressed that any credible agreement must involve “a broader cessation of hostilities, including in Lebanon.”
Martin, whose government has b
Middle East Conflict Intensifies: New Challenges for Families, Economies, and Communities
Gaza Strip, June 13 – Eurotoday Newspaper — Middle East conflict impact remains a major concern as ongoing instability continues affecting families, communities, and economies throughout the region. Humanitarian organizations, governments, and international institutions are closely monitoring developments as the Middle East conflict impact extends beyond immediate security concerns and influence
World News Summary: Violence Impedes Ebola Response, Aid in Darfur and Gaza, Nicaraguan Activist’s Death in Custody
Escalating Regional Security Tensions: Diplomacy and Military Actions Reshape the Middle East
Jerusalem, Israel, June 13 – Eurotoday Newspaper — Regional security tensions continue drawing international attention as diplomatic negotiations, military activity, and geopolitical developments shape the outlook for the Middle East. Governments, investors, and policy experts are closely monitoring events across the region as regional security tensions influence security planning, economic expe
Swedish Jets Intercept Russian Aircraft in Two Separate Incidents
The Swedish military indicated in a statement that on Friday there were two separate occurrences when Russian Su-24 and Su-34 fighter jets flew in the Baltic Sea area but did not enter Swedish airspace.
“Russia’s actions ar
Switzerland’s Population Cap Vote Threatens EU Free Movement
Swiss voters are approaching a national ballot on whether to restrict the permanent resident population below 10 million until 2050. If approved, this could force Switzerland to limit family reunification and asylum measures, affecting its free movem
Rising Regional Security Risks Amid Global Focus on Middle East Diplomacy
Jerusalem, Israel, June 13 – Eurotoday Newspaper — Regional security risks are drawing renewed international attention as governments across the Middle East closely monitor ongoing diplomatic developments involving major global and regional powers. Policymakers, security analysts, and investors continue evaluating how changing geopolitical conditions could influence stability, cooperation, and f
EU Countries Approve Initiating Membership Talks with Ukraine, Moldova
“This acknowledges the determination, bravery, and hard work of both countries in pursuing reforms, even amidst significant challenges,” stated
Scotland’s World Cup Return Begins Against Haiti in Boston
Two long World Cup absences meet in Group C as the expanded tournament gives smaller football nations a larger stage
Scotland faces Haiti in Boston on Saturday night as they make their return to the men’s World Cup after a 28-year absence. This Group C opener is more than just a match; it’s a test of preparation and identity for both teams, reflecting how football’s biggest tournament now
Brussels to Host Four Highly Anticipated Johann Sebastian Bach Concerts
They start this Saturday (June 13) and continue on June 20 and 27, and July 4, at the Cathedral of St. Michael and St. Gudula in Brussels.
For the third consecutive year, this is organised by the Ars in Cathedrali association.
From noon to 12.45pm, the world famous German composer will be celebrated by organists Ben Van Nespen, Charlène Bertholet, Annelies Focquaert, and Momoyo Kokubu.
The conce
Leave a Reply