Dubai Telegraph - EU scrambles to seal climate deal ahead of COP30

EUR -
AED 4.278799
AFN 77.332466
ALL 96.575617
AMD 445.1876
ANG 2.085576
AOA 1068.388216
ARS 1684.735918
AUD 1.75613
AWG 2.09862
AZN 1.984015
BAM 1.955298
BBD 2.351906
BDT 142.873314
BGN 1.955951
BHD 0.439244
BIF 3450.13256
BMD 1.165091
BND 1.512264
BOB 8.068928
BRL 6.18139
BSD 1.167705
BTN 104.895516
BWP 15.51395
BYN 3.380546
BYR 22835.780461
BZD 2.348507
CAD 1.624445
CDF 2598.152383
CHF 0.935795
CLF 0.027249
CLP 1068.972737
CNY 8.239114
CNH 8.235468
COP 4423.838268
CRC 572.550529
CUC 1.165091
CUP 30.874907
CVE 110.236695
CZK 24.215228
DJF 207.947498
DKK 7.468599
DOP 74.200629
DZD 151.573688
EGP 55.422094
ERN 17.476363
ETB 182.080866
FJD 2.631882
FKP 0.872491
GBP 0.87341
GEL 3.139877
GGP 0.872491
GHS 13.301585
GIP 0.872491
GMD 85.051785
GNF 10146.786517
GTQ 8.944742
GYD 244.307269
HKD 9.07004
HNL 30.745973
HRK 7.537941
HTG 152.955977
HUF 381.927241
IDR 19422.821609
ILS 3.76036
IMP 0.872491
INR 104.791181
IQD 1529.71378
IRR 49079.451231
ISK 149.003201
JEP 0.872491
JMD 187.141145
JOD 0.82607
JPY 180.711448
KES 150.704566
KGS 101.886647
KHR 4676.939601
KMF 491.66861
KPW 1048.573823
KRW 1715.887947
KWD 0.35759
KYD 0.973154
KZT 590.220982
LAK 25331.604319
LBP 104570.198293
LKR 360.448994
LRD 206.107962
LSL 19.822595
LTL 3.44021
LVL 0.704752
LYD 6.347397
MAD 10.774234
MDL 19.862985
MGA 5193.64414
MKD 61.624177
MMK 2446.620372
MNT 4131.997126
MOP 9.362236
MRU 46.266921
MUR 53.675364
MVR 17.954132
MWK 2024.871384
MXN 21.185039
MYR 4.789718
MZN 74.447687
NAD 19.822595
NGN 1690.547045
NIO 42.970442
NOK 11.774198
NPR 167.831186
NZD 2.017279
OMR 0.448002
PAB 1.1678
PEN 3.926892
PGK 4.952877
PHP 68.813177
PKR 329.883811
PLN 4.230421
PYG 8097.955442
QAR 4.268104
RON 5.093784
RSD 117.405001
RUB 89.428762
RWF 1699.056442
SAR 4.372624
SBD 9.581501
SCR 15.83572
SDG 700.739077
SEK 10.962357
SGD 1.508886
SHP 0.87412
SLE 26.796781
SLL 24431.370198
SOS 666.226074
SRD 45.023191
STD 24115.028075
STN 24.494657
SVC 10.21742
SYP 12883.858981
SZL 19.816827
THB 37.09708
TJS 10.731491
TMT 4.077818
TND 3.427635
TOP 2.805259
TRY 49.532165
TTD 7.917001
TWD 36.455959
TZS 2842.8212
UAH 49.235746
UGX 4139.936989
USD 1.165091
UYU 45.74845
UZS 13910.428222
VES 289.625154
VND 30711.794538
VUV 142.222766
WST 3.250779
XAF 655.7858
XAG 0.020016
XAU 0.000276
XCD 3.148716
XCG 2.104569
XDR 0.815587
XOF 655.791427
XPF 119.331742
YER 277.75676
ZAR 19.715959
ZMK 10487.212054
ZMW 26.828226
ZWL 375.158775
  • RYCEF

    0.0500

    14.7

    +0.34%

  • BCC

    -0.4900

    73.77

    -0.66%

  • NGG

    0.0500

    75.96

    +0.07%

  • RIO

    -0.0750

    73.655

    -0.1%

  • CMSD

    0.0200

    23.34

    +0.09%

  • RELX

    0.1600

    40.7

    +0.39%

  • GSK

    -0.2400

    48.33

    -0.5%

  • VOD

    -0.1620

    12.471

    -1.3%

  • RBGPF

    0.0000

    78.35

    0%

  • BTI

    -0.8650

    57.175

    -1.51%

  • AZN

    0.9500

    90.98

    +1.04%

  • SCS

    -0.0400

    16.19

    -0.25%

  • BCE

    0.1930

    23.413

    +0.82%

  • JRI

    0.0330

    13.783

    +0.24%

  • CMSC

    -0.0450

    23.43

    -0.19%

  • BP

    -0.6050

    36.625

    -1.65%

EU scrambles to seal climate deal ahead of COP30
EU scrambles to seal climate deal ahead of COP30 / Photo: Nicolas TUCAT - AFP/File

EU scrambles to seal climate deal ahead of COP30

EU environment ministers will Tuesday make a last-ditch attempt to reassert the bloc's climate ambitions by nailing down key emissions targets in the run-up to the UN's climate summit in Brazil.

Text size:

"To come empty-handed to Belem," where the COP30 talks are taking place from November 10 to 21, "would really undermine the EU's credibility," warned an EU diplomat.

Talks are expected to stretch into the night among the European Union's 27 member states, which have been haggling for months over two separate targets for slashing greenhouse-gas emissions: one for 2035 and the other for 2040.

Behind only China, the United States and India in terms of emissions, the EU has been the most committed of the major polluters to climate action and has already cut emissions by 37 percent compared to 1990.

But after blazing a trail, the EU's political landscape has shifted to the right, and climate concerns have largely taken a back seat to defence and competitiveness.

Ministers' most urgent challenge on Tuesday is to reach a unanimous deal on an emissions target for 2035, known as a Nationally Determined Contribution (NDC), which Paris Agreement signatories are supposed to bring to the Brazil summit.

Beyond that, they hope to lock in the support of a weighted majority of countries for the next big climate target set out by the European Commission on the path to carbon neutrality by 2050.

The EU executive said in July it wanted to cut emissions by 90 percent by 2040, compared to 1990 levels -- a major step towards net-zero.

But the bloc's capitals have yet to endorse that next step, which would require sweeping changes to industry and daily life at a time of growing concern over adverse impacts on Europe's economy.

Spain and the Nordic countries support the 2040 proposal, as does Germany -- with some caveats. But Hungary, Poland, the Czech Republic and Italy remain opposed, citing risks to their industrial sectors.

Heavyweight France, meanwhile, has kept observers guessing, drawing criticism from environmental groups.

On Paris's list of demands are guarantees its nuclear sector would not lose out under green transition plans, funding for clean industries, and wiggle room on emissions should Europe's forests absorb less carbon than expected in years to come.

- 'Balancing act' -

To win over the staunchest sceptics, Tuesday's talks will cover a range of "flexibilities" for member states, including letting countries count carbon credits purchased to finance projects outside Europe.

A commission pledge for credits to account for up to three percent of a nation's 2040 emission cuts failed to win over hardliners, with countries including France pushing for a higher threshold of five percent.

Some countries also want a review clause in the 2040 climate law, allowing the target to be reassessed every two years.

Environmental groups have been pushing back.

"Member States should not further undermine the proposals on the table through unnecessary loopholes," warned Sven Harmeling at Climate Action Network Europe.

But a diplomat involved in the process defended the compromise shaping up in Brussels, while conceding it was "not necessarily pretty".

"In the muddy, messy, nasty real world out there, we are trying to achieve something good," said the diplomat, granted anonymity to discuss the sensitive deliberations.

"It's a careful balancing act," summed up a second diplomat, who said countries "seem to be converging" on an agreement.

With the clock ticking down to COP30, EU countries in September agreed to a non-binding "statement of intent" for the bloc to cut emissions by between 66.25 percent and 72.5 percent by 2035.

To avoid deadlock, ministers are expected Tuesday to formalise that range as the bloc's legally binding NDC under the Paris Agreement.

"It's simply unthinkable that the EU would arrive in Belem without an NDC," said a French government source. "That would be a diplomatic disaster."

The EU insists it remains committed to its role as global climate leader, having mobilised 31.7 billion euros ($36.6 billion) in public climate finance in 2024, making it the world's largest donor.

I.Khan--DT