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.
The 2020 monetisation of the first batch of 50 million allowances for the Innovation Fund was planned to start on 7 January 2020 but will be slightly delayed. The auctions of Member States’ allowances will take place as scheduled. This slight postponement of the monetisation will not delay the launch of the Innovation Fund.
Today at COP25, European Commission’s Executive-Vice President for the European Green Deal Frans Timmermans was announced as the new Co-Chair of the Global Covenant of Mayors for Climate and Energy, alongside Michael R. Bloomberg.
On 5 December, the Joint Committee established by the Agreement between the European Union and the Swiss Confederation on the Linking of their Greenhouse Gas Emissions Trading Systems adopted a Decision that amends Annexes I and II to the Linking Agreement.
Today, the European Commission has published the results of its evaluation of Regulation (EC) No 1005/2009 on substances that deplete the ozone layer (the Ozone Regulation). The Regulation plays a major role in the global effort to ensure the recovery of the stratospheric ozone layer as well as reducing global warming, since ozone-depleting substances are also powerful greenhouse gases.
President Ursula von der Leyen is representing the European Commission at the UN Climate Conference (COP25) on her first day in office, delivering a speech in the opening Leaders’ Session today.
"Check against delivery"
Speech by Commissioner Arias Cañete at the Plenary Session of the European Parliament on 25 November 2019
This autumn more than 120 new projects will be funded under the LIFE programme for the Environment and Climate Action, helping Europe shift to a more sustainable and low-carbon future. Approximately €240 million will go to projects in the fields of nature and biodiversity, environment and resource efficiency, and climate action, mobilising additional investments in these areas.