EU countries outline priorities for COP29 in Baku

At COP29 in Baku, Commissioner Wopke Hoekstra will lead the EU negotiating team, Report informs via the press service of the European Commission.

Climate finance is set to be a key topic in negotiations. Crucial to a successful outcome will be achieving significant progress on defining the New Collective Quantified Goal (NCQG) for supporting developing countries in their climate actions from a floor of $100 billion per year.

It will be crucial for Parties to reconfirm their commitment to implementing the ambition of the agreement reached in Dubai at COP28 in the UAE consensus, where countries agreed to phase down fossil fuels.

"Negotiators will seek to maintain last year's political momentum on reducing emissions, in particular in setting the framework for the next round of national climate targets - known as Nationally Determined Contributions - which are due for adoption in 2025, ahead of COP30. The Council Conclusions adopted yesterday also set out the EU's conditions for concluding the negotiations under Article 6 of the Paris Agreement on the rules for international carbon markets, which should ensure transparency and environmental integrity while contributing to emission reductions. The EU will also continue to ensure progress on adaptation policies and boosting global resilience to climate change," reads the report.