It will also enable the contracting parties to gradually strengthen their contributions to the fight against climate change in order to achieve the long-term objectives of the agreement. Since our last update in December 2019, the EU-271 has taken a major step forward in regaining its position as a climate leader in the fight against climate change. Although its measures to combat climate change are not yet compatible with the Paris Agreement, it differs from other countries in making the fight against climate change the engine of economic recovery. The EU`s main weakness remains the target of reducing emissions by at least 40% by 2030, which is outdated and extremely inadequate. In September, the Commission recommended that the EU increase its target to at least 55% (including UTCATF); But that doesn`t go far enough. Increasing this target to 65% and funding measures to combat climate change abroad would make the EU the first region to meet commitments that are compatible with the Paris Agreement. Given that these changes are not yet reflected in a significant increase in the EU`s emissions reduction target, the CTU considers that the EU-27 is “insufficient”. EU Council on Sustainable Financing: EU reached political agreement on a single EU classification system Due to the COVID-19 blockade and the economic recession, EU emissions are expected to be 10-11% lower in 2020 compared to 2019. This would result in an overall decrease of 34-35% in 2020 from 1990 levels. The economic recovery in 2021 is expected to result in a 2% increase in emissions compared to 2020. The measures already implemented at the national level of the Member States will result in a reduction in emissions of around 37% in 2030 compared to 1990 levels. Achieving the EU`s renewable energy and energy efficiency targets will result in a 48% reduction in emissions by 2030.
This indicates that the EU is on the verge of meeting – or even exceeding – its current emissions reduction target by 2030. A significant reinforcement of this objective is therefore not only achievable, but also necessary to meet the Paris Agreement`s requirement to reflect “the highest possible ambitions”. To contribute to the goals of the agreement, countries presented comprehensive national climate change plans (national fixed contributions, NDC). These are not yet sufficient to meet the agreed temperature targets, but the agreement points to the way forward for further measures. The EU and its member states are among the nearly 190 parties to the Paris Agreement. The EU formally ratified the agreement on 5 October 2016, allowing it to enter into force on 4 November 2016. In order for the agreement to enter into force, at least 55 countries representing at least 55% of global emissions had to file their ratification instruments. The Paris agreement succeeds the Kyoto Protocol. Unlike the Kyoto Protocol (where all the commitments made by the parties to Appendix B have been expressed as absolute annual emission budgets for several years (top-down approach), the contributions of the Paris Agreement are formulated from the bottom up.
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