The Partnership aims to accelerate the decarbonisation of South Africa's economy, with a focus on the electricity system, to help it achieve the ambitious goals set out in its updated Nationally Determined Contribution emissions goals.
President Ursula von der Leyen announced €1 billion in Glasgow as the European Union contribution to the Global Forests Finance Pledge: “Forests are the green lungs of the earth. We need to protect and restore them. I gladly announce that we are pledging €1 billion to protect world forests. This is a clear sign of the EU's commitment to lead global change to protect our planet, in line with our EU Green Deal.
European Commission President Ursula von der Leyen and Bill Gates, the Founder of Breakthrough Energy, together with European Investment Bank President Werner Hoyer, have officially entered into a pioneering partnership that will boost investments in critical climate technologies. The partnership will mobilise up to €820 million ($1 billion) between 2022-2026 to accelerate the deployment and rapidly commercialise innovative technologies that will help deliver European Green Deal ambitions and the EU's 2030 climate targets.
The United States, the European Union, and partners formally launched the Global Methane Pledge, an initiative to reduce global methane emissions to keep the goal of limiting warming to 1.5 degrees Celsius within reach. A total of over 100 countries representing 70% of the global economy and nearly half of anthropogenic methane emissions have now signed onto the pledge. Countries joining the Global Methane Pledge commit to a collective goal of reducing global methane emissions by at least 30 percent from 2020 levels by 2030.
At COP26, the European Commission announced a new pledge of €100 million in finance for the Adaptation Fund.
Speaking in Glasgow, Executive-Vice-President Frans Timmermans said: “We have to scale up international climate finance and provide a predictable framework for its delivery. The Adaptation Fund can play a key role and that is why I am pleased to announce for the first time that the European Commission is committing €100 million to the Fund, to support developing countries.”
At the end of the COP26 UN Climate Conference, the European Commission supported the consensus reached by over 190 countries after two weeks of intense negotiations. COP26 resulted in the completion of the Paris Agreement rulebook and kept the Paris targets alive, giving us a chance of limiting global warming to 1.5 degrees Celsius.
At a dedicated event during COP26, the first three projects to be financed since the creation of the Innovation Fund signed their grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA), the implementing body of the Fund. They will benefit from a total grant of EUR 12.7 million. In addition, the Commission adopted a decision on the award of EUR 1.7 million for project development assistance to 10 projects.
During COP26, the EU hosted more than 160 side events at the EU Pavilion in Glasgow, Brussels and online. These events, organised by a variety of countries and organisations from Europe and around the world, addressed a broad range of climate-related issues, such as the energy transition, sustainable finance and research and innovation.
You can watch the recordings of all events on the side events platform.
Boerse-Express, Austria
24hod, Slovakia
La Repubblica, Italy
