
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
ICE-Involved Shooting in Maine Results in One Death as Investigation Starts
Biddeford, Maine, July 13 Eurotoday Newspaper – ICE-involved shooting in Maine is under investigation after one person was killed during an incident involving federal immigration authorities in Biddeford on Monday. State and local officials confirmed the fatal shooting while emphasizing that the investigation remains in its early stages.
Authorities Confirm Fatal Incident
Emergency responders, l
Russia Sanctions Package Deadline Pushed to Wednesday
The 21st sanctions package has been diluted in recent weeks, with a proposed ban on Russian fish exports removed over the weekend. Restrictions on EU visas for former soldi
EU Dispatches Hybrid-Threat Team to Armenia
EU Expands Role in South Caucasus with a Civilian Mission in Armenia
The European Union has initiated a civilian Partnership Mission in Armenia, addressing concerns over cyber attacks, misinformation, and illegal financial activities through a two-year advisory deployment. This action enhances Brussels’ security ties with Yerevan during a pivotal time for Armenia’s sovereignty and de
FAA Completes Starship Review Before SpaceX’s Upcoming Test Flight
Washington, D.C., July 13 Eurotoday Newspaper – FAA Starship review has concluded, clearing an important regulatory milestone for SpaceX as the company prepares for its next Starship test flight later this week. The Federal Aviation Administration announced that it completed its oversight of the investigation into the Super Heavy booster incident from the previous mission after accepting the com
Tour Shortens Stage Amid Red Alert Heat Levels
Corrèze warning raises safety concerns for Sunday’s ride to Ussel
The Tour de France has reduced the length of Sunday’s ninth stage due to a red heatwave alert in Corrèze, highlighting the challenge of protecting cyclists, spectators, and local communities during increasingly severe European summers.
By Daniel Mercer, Sports Correspondent, The European Times
Organisers announced the stage
UK to Proscribe Iran’s IRGC Due to ‘Threats to Life’
Under the National Security (State Threats) Act 2026, which was expedited in parliament, it will be illegal to promote or support the organization, assist them in U.K. operations, or receive any material benefit from them. The maximum sentence is life imprisonment.
Death Toll in Venezuela Earthquake Climbs to 4,490 Amid Ongoing Recovery Efforts
Caracas, July 12, Eurotoday Newspaper – The death toll from the devastating earthquakes in Venezuela has risen to 4,490, according to the latest official figures released by authorities. Thousands of people remain displaced, while emergency teams continue recovery efforts across the country’s hardest-hit regions. Rescue crews have worked around the clock since the powerful twin earthquakes struc
What does Starmer’s last week look like?
Sam Coates and Anne McElvoy provide updates on the police investigation, Nigel Farage’s response, and the broader political implications. This coincides with an intensifying debate over political party donations, with Reform contending that existing
Bangkok Pub Fire Claims at Least 27 Lives; Thailand Begins Investigation
Bangkok, July 12, Eurotoday Newspaper – Bangkok pub fire has left at least 27 people dead after flames swept through a crowded nightlife venue in Thailand’s capital, according to local officials. Dozens of people were also injured as firefighters battled the blaze and rescue teams searched the building. Authorities have launched a formal investigation to determine what caused one of the country’
EU Confronts Trade Settlement Decision on Gaza
EU foreign ministers are set to meet in Brussels on Monday under growing pressure to decide if the bloc’s long-standing opposition to Israeli settlements should be accompanied by concrete trade actions. The debate, expected on July 13, highlights the humanitarian and legal cha



Leave a Reply