On November 13th, representatives of nearly 200 States agreed on the final text of the deal reached in the framework of the 26th United Nations Climate Change Conference of the Parties (COP26).
The States reaffirmed their ambition to limit global warming to 1.5 degrees and pledged to aim at reaching the target of 100 billion dollars per year of climate finance to assist developing countries in their green transition. According to Ursula von der Leyen, this target could be reached already in 2022 if “partners agree to step up further”, while, reportedly, the EU constitutes a quarter of global climate finance, with over 27 billion dollars a year. The participants also claimed their ambition to get agreement on the Paris rulebook.
President Von der Leyen reconfirmed the Union’s ambition to become the first climate neutral continent by 2050, and to cut its emissions by at least 55% by 2030.