The European Union is committed to becoming the first climate-neutral bloc in the world by 2050. This requires significant investment from both the EU and the national public sector, as well as the private sector. The European Green Deal's Investment Plan - the Sustainable Europe Investment Plan - presented today will mobilise public investment and help to unlock private funds through EU financial instruments, notably InvestEU, which would lead to at least €1 trillion of investments.
The European Union and its Member States stand firm behind the Paris Agreement. We came to Madrid to wrap up the ‘Katowice rulebook' and to clear the path for raising ambition in 2020 at COP26 in Glasgow.
European Commission Executive Vice-President Frans Timmermans and Ministers from the European Union and the African, Caribbean and Pacific (ACP) Group of States, together making up more than half of the signatories to the Paris Agreement on climate change, today met at COP25 in Madrid to discuss joint action to enhance global climate ambition.