Last-minute climate deal hiccups expose EU concerns over political ... - The Japan Times
Last-minute climate deal hiccups expose EU concerns over political costs | The Japan Times
Leaders and companies in Europe’s biggest markets are increasingly balking at the ambitious pace of the continent’s green push as they confront the massive costs associated with economic transformation.
The European Union’s drive to make the continent climate-neutral has coincided with emergency rules to mitigate the effects of an energy crisis and increasing competition from the U.S. and China. This has put great pressure on governments and companies, sparking calls from French President Emmanuel Macron and other leaders for a slower pace.
Countries including France and Germany have started to chip away at parts of the EU’s so-called Green Deal that have the potential to negatively impact their voters. EU officials worry that Berlin and Paris have opened the door to those seeking to soften the climate package, potentially hobbling the overall proposal and putting the time line —no net emissions of greenhouse gases by 2050 — in jeopardy.
Related Knowledge Center: Climate diplomacy
Talks are well underway in preparation for the next major international meeting on climate change, 28th Conference of the Parties (COP28), scheduled to begin Nov. 30 in the United Arab Emirates.
Much like last year’s COP27, finances — specifically, aid to developing nations — will be at the center of conference deliberations.
The conference faces an even greater sense of urgency brought on by the Sept. 8, 2023, release of the first global stocktake, which calls for accelerated action to meet the goals set in the 2015 Paris Climate Agreement (COP21).
Climate diplomacy: COP 27 | Climate diplomacy: COP 28 | Climate diplomacy: COP 29