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
Cat Used to Smuggle Drugs Caught in Russian Prison
The incident took place at prison colony No. 17 in Nizhny Novgorod, where prison officers stopped the cat before it reached the facility. Russia’s Federal Service for the Execution of Penal
L’UE inflige à Google une amende de 890 millions d’euros pour son moteur de recherche et son app store
The Commission stated that Google has already begun to test certain corrective measures — including changes in how free servi
EU Countries Reinstate Temporary Measures for Big Tech to Identify Child Sexual Abuse Material
Brussels, July 23 Eurotoday — Online child protection Europe received renewed legal support after European Union member states agreed to restore an interim measure allowing major technology companies to voluntarily detect, report and remove child sexual abuse material (CSAM). The decision restores legal certainty for online platforms following the expiry of the previous temporary framework earli
Cuban Addresses Fuel Shortage Issue
Cuba is facing a severe energy crisis following the halt of oil supplies from the United States and Venezuela in January. Consequently, gasoline is rationed, and power outages are widespread. On the black market, gasoline prices have soared to $8 per liter, six times the official state price.
Reuters reports a Cuban has converted a Fiat 126p to operate on coal.
Mechanic Juan Carlos Pino tackled
EU’s Google Fine Risks Triggering Trump as He Gears Up for More Tariffs
One diplomat mentioned that ambassadors could convene an extra
NATO Defense Support Bolstered as Zelenskiy Announces Raytheon’s Interceptor Production Partnership Intent
Kyiv, July 23 Eurotoday — NATO defence support remains central to Ukraine’s security strategy after President Volodymyr Zelenskiy said U.S. defence company Raytheon is interested in helping produce interceptor missiles in Ukraine. The proposal highlights efforts to strengthen the country’s air defence capabilities while expanding cooperation with Western defence manufacturers.
Raytheon Signals I
Germany rebukes Trump over South Africa’s G20 ban
During his speech, Wadephul highlighted his desire to build closer ties with South Africa, despite differences on significant geopolitical issues like Russia’s war in Ukraine, the Gaza conflict, and China. As a BRICS member, South Africa historically maintains close rel
Spanish Wildfire Response Criticized for Exposing Warning Gaps
Madrid, July 22 Eurotoday — Wildfire emergency response has come under renewed scrutiny after a devastating wildfire in Spain revealed weaknesses in emergency warning systems and outdated evacuation plans. Residents in several affected communities reported receiving delayed alerts as flames spread rapidly through dry woodland, leaving many to rely on neighbours and personal judgement rather than
Leave a Reply