The EU is set to advocate ambitious climate goals at the upcoming 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, scheduled for 11 to 22 November. In its approved negotiating position, the EU Council has called for an outcome that fortifies global efforts to limit warming to 1.5°C by emphasising climate finance and concrete action plans to advance progress.
The Council’s position calls for an ambitious, achievable new collective quantified goal (NCQG) on climate finance. This NCQG will adopt a broad, transformative approach, involving both public and private investment to reach climate neutrality. While public funds alone are insufficient, the EU envisions a role for private sector investment that complements public financing, aligning with a broader goal of leveraging multiple finance streams in response to the climate crisis.
The EU is pushing for major economies to deliver more ambitious nationally determined contributions (NDCs) by 2025, with economy-wide, absolute reduction targets for all greenhouse gases. This is particularly significant in light of last year’s COP28 global stocktake, which revealed gaps in global climate action and highlight the need for increased ambition to meet the Paris Agreement goals. The EU’s strategy for COP29 includes a focus on scaling up mitigation measures and embedding adaptation policies across sectors to promote resilience. Moreover, the EU calls on member states to integrate climate resilience into national policies to ensure long-term, comprehensive solutions.
Anikó Raisz, Hungarian Minister of State for Environmental Affairs and the Circular Economy, emphasised the importance of global solidarity, saying, “This ambitious yet balanced text, grounded in consensus among EU countries, will serve as the EU’s roadmap to Baku. The EU will continue to play a leading role in international efforts to limit global warming, calling for solidarity with vulnerable countries and communities in this collective battle. Because climate change spares no country, territory or region.”
To achieve the Paris Agreement goals in a fair and just way, the EU advocates for a transition from fossil fuels, with a targeted pathway toward net-zero emissions by 2050. This transition is essential for climate security and social equity, and the EU emphasises continued tracking of these commitments through initiatives like the UAE-led mitigation work program and the just transition pathways developed last year. These initiatives aim to ensure that countries meet their Paris Agreement commitments equitably.
The EU has also emphasised the importance of supporting vulnerable nations, which often face the brunt of climate impacts despite contributing minimally to global emissions. With COP29 focused on increasing national climate ambitions and securing climate finance, the EU, a signatory to the UN Framework Convention on Climate Change (UNFCCC), aims to foster a unified approach to global climate action that is both achievable and impactful.