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
Turkey’s Ousted Opposition Leader Prepares for Potential New Party Amid Political Crisis
Istanbul, July 15 Eurotoday Newspaper – Turkey opposition crisis intensified after ousted Republican People’s Party (CHP) leader Özgür Özel confirmed that preparations are underway for a possible new political party if legal efforts to regain leadership do not succeed. His comments come as Turkey’s main opposition continues to face internal divisions following a court ruling that overturned the
EU Approves Extra Quota for 35,000 Tonnes of Mexican Honey
The organizations noted the potential for increased ma
It’s Keir Starmer’s last PMQs. Here’s how previous prime ministers handled it.
In Tony Blair’s final
The Maldives: Beyond a Honeymoon Destination
The Maldives is a long way away and, for some, it may seem out of reach.
But, even so, one Belgian found her way there and then fell in love with the place. So much so, in fact, that she made it her home.
Isabelle Gobert works as Cluster Assistant Director of Marketing & Communication at Niva Dhigali, one of the Maldives’ leading resort islands.
In an exclusive Q&A with this site, she
Form 8.5 (EPT/RI) – Alternative Income REIT PLC
FORM 8.5 (EPT/RI)
PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the “Code”)
1. KEY INFORMATION
(a) Name of exempt principal trader:
Shore Capital Stockbrokers Ltd
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:
The Disappearance of the Border Overnight
As part of these efforts, Commission President Ursula von der Leyen and a team of EU leaders are making an unexpected visit to Kyiv to advance a series of new defense initiatives. Zoya Sheftalovich and Ian Wishart discuss the packages expected to be unveiled today.
Additionally, starting
MEPs Support EU Heart Health Strategy, but Critics Warn of Overlooking Core Disease Causes
The European Parliament’s Public Health Committee has adopted its response to the EU’s cardiovascular health plan, backing prevention, early detection, and action against risk factors for heart disease and stroke.
The report, approved on June 24 by 38 votes to two, with one abstention, responds to the European Commission’s Safe Hearts Plan, unveiled in December 2025. It calls for a coordinated E
EU Leverages Visa Policy on Guinea
9 EU Countries Call to Defund Olympics Over Russian Re-entry
“Nothing has changed on the ground. Russia is still waging its brutal war of aggression against Ukraine,” stated Swedish Minister of Social Affairs Jakob Forssmed. “EU funding programs and cooperation frameworks cannot
Establishing a New Standard in Luxury Travel
The move is said to mark a milestone in Emirates’ continued investment into elevating customer experience on-ground.
The new design aesthetic has been revealed in the Emirates Lounge in Munich, as well as Frankfurt, with signature lounges in
Leave a Reply