European Parliament calls on EU to strengthen green diplomacy

The European Parliament has outlined its priorities ahead of the upcoming UN Climate Change Conference, COP29, urging global leaders to commit to new climate finance targets.

MEPs called for a new collective climate finance goal for the post-2025 period that aligns with the polluter-pays principle. The resolution, developed by the Committee on the Environment, Public Health, and Food Safety, stresses the need for funding that is socially equitable and sourced from a mix of public, private, and innovative channels.

The Parliament emphasised that major and emerging economies with high emissions and GDP should contribute more to global climate initiatives. It also urged the EU to enhance its green diplomacy efforts to establish a global level playing field, prevent carbon leakage, and bolster public support for climate measures. The EU is encouraged to promote carbon pricing mechanisms like its emissions trading system and carbon border adjustment mechanism to other nations.

Additionally, MEPs called for COP29 to deliver a clear commitment to phasing out fossil fuels, including ending all subsidies for fossil fuels and redirecting those funds toward climate action. This would follow up on the COP28 pledge to transition away from fossil fuel reliance.