| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 81 final (25.2.15) |
| Publication Date | 25/02/2015 |
| Content Type | Policy-making, Report |
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According to the latest findings of the Intergovernmental Panel on Climate Change (IPCC), without urgent action, climate change will bring severe, pervasive and irreversible impacts on all the world's people and ecosystems. Limiting dangerous rises in global average temperature to below 2°C compared with pre-industrial levels (the below 2°C objective) will require substantial and sustained reductions in greenhouse gas emissions by all countries. This global transition to low emissions can be achieved without compromising growth and jobs, and can provide significant opportunities to revitalise economies in Europe and globally. Action to tackle climate change also brings significant benefits in terms of public well-being. Delaying this transition will, however, raise overall costs and narrow the options for effectively reducing emissions and preparing for the impacts of climate change. All countries need to act urgently and collectively. Since 1994, the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) have focused on this challenge, resulting in more than 90 countries, both developed and developing, pledging to curb their emissions by 2020. However, these pledges are insufficient to achieve the below 2°C objective. For these reasons, in 2012, the UNFCCC Parties launched negotiations towards a new legally binding agreement applicable to all Parties that will put the world on track to achieve the below 2°C objective. The 2015 Agreement is to be finalised in Paris in December 2015 and implemented from 2020. The progress made at the recent climate conference in Lima brings a robust agreement in Paris within reach. Most importantly, it was decided how countries should formulate and communicate their proposed emission reduction targets well in advance of the Paris conference. A first full draft text of the 2015 Agreement was also developed, reflecting the positions of all Parties on all the elements under negotiation. Well ahead of the Lima conference, the EU continued to show leadership and determination to tackle climate change globally. At the European Summit in October 2014, European leaders agreed that the EU should step up its efforts and domestically reduce its emissions by at least 40% compared to 1990 by 2030. This was followed by announcements of China and the US. In Lima, EU Member States pledged about half of the initial capitalisation of US$10 billion to the Green Climate Fund (GCF) to assist developing countries. Within the EU, a new investment plan was adopted. This will unlock public and private investments in the real economy of at least €315 billion over the next three years (2015-17). These investments will help modernise and further decarbonise the EU’s economy. This communication responds to the decisions taken in Lima, and is a key element in implementing the Commission's priority of building a resilient Energy Union with a forward-looking climate change policy consistent with the President of the Commission's political guidelines. This communication prepares the EU for the last round of negotiations before the Paris conference in December 2015. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2015:081:FIN |
| Related Links |
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| Subject Categories | Environment |
| Countries / Regions | Europe |
