The European Parliament today called for a "loss and damage" financing facility to be agreed on at the forthcoming UN Cop 27 climate change conference, as well as increased national climate pledges and the securing of $100bn in international climate finance. EU countries should commit to tightened climate targets, parliament said.
The non-binding resolution voted on today calls on the EU to increase climate targets with concrete binding measures, and for a treaty on "non-proliferation" of fossil fuels. Parliament also included several other amendments, including a call for summit participants not to use private jets, and a call to end protection for fossil fuel investors in investment tribunals.
Dutch green member of parliament (MEP) Bas Eickhout — who will head the parliament's Cop 27 delegation in Sharm El-Sheikh, Egypt, from 6-18 November — wants "urgent" progress on a loss and damage scheme to ensure climate change costs are distributed more fairly.
"The current floods in Pakistan make the need for such a mechanism painfully clear," Eickhout said. "The country has barely contributed to climate pollution but it is paying the price for damage caused by others."
The EU should not be shy about its climate achievements in Sharm El-Sheikh, German centre-right EPP MEP Peter Liese said. "If we fulfil our [2030 greenhouse gas emission reduction] plans — and, with what the parliament is asking, we will exceed them — then in 2030, even if the US achieves its plans, which is not so certain, we will have 2.5 times less pro-capita emissions," Liese said.
As co-legislator, parliament would have to give consent to any international agreement signed by the EU. But negotiations are led by the European Commission, following a formal EU negotiating position that is expected to be signed off on 24 October, with the Czech Republic co-ordinating talks between ministers. Speaking to parliament, Czech government minister Ivan Bartos indicated that EU countries would stick to their "mutually confirmed" ambition of at least 55pc greenhouse gas emission reductions by 2030 compared with 1990 levels.
While welcoming deliberation on new collective qualified climate finance goals, taking place until 2024, Bartos only promised the EU's continued "constructive" engagement, with no concrete figures. But the EU remains keen to call on all other countries to scale up their efforts to mobilise at least $100bn/yr in global climate finance as soon as possible, or by 2025.
