On Monday evening, the European Parliament’s Committee on the Environment, Public Health, and Food Safety adopted its official position for the upcoming UN Climate Change Conference, COP29.
With 54 votes in favor, 23 against, and four abstentions, the resolution calls for a new collective climate finance goal post-2025. MEPs emphasize the need for a socially fair system aligned with the polluter-pays principle, drawing from public, private, and innovative financial sources. The committee also reiterated the need for a predictable EU climate finance mechanism to meet its commitments.
Accelerating the Phase-Out of Fossil Fuels
MEPs are urging COP29 to solidify the COP28 promise to transition away from fossil fuels. The resolution stresses that phasing out fossil fuels and their subsidies is not only necessary but technologically achievable. It calls on all nations to end direct and indirect fossil fuel subsidies and reallocate those funds toward climate action.
Global Carbon Pricing and Pollution Control
The resolution also highlights the slow global uptake of carbon pricing, noting that only 24% of global emissions are currently covered by such mechanisms. MEPs are pushing for broader implementation of carbon pricing, using the EU’s emissions trading system and carbon border adjustment mechanism as models. Additionally, the resolution calls for stronger efforts to tackle pollution from water, chemicals, plastics, and methane, as well as emissions from sectors like shipping, aviation, and agriculture.
Next Steps
The resolution will be put to a vote by the full European Parliament during the plenary session on November 13-14.
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