EU Foreign Affairs Ministers will adopt climate and energy diplomacy conclusions (FAC conclusions) on March 18th, 2024. This marks the first EU public statement following COP28, a crucial moment in shaping the world’s interpretation of the UAE consensus adopted in Dubai.
The European contribution to the success of COP28 was significant, certifying the end of the fossil fuel era, building a global agenda for a broader financial reform, and establishing the Loss and Damage fund, instrumental in fostering trust between developed and developing countries.
The briefing argues that these FAC conclusions can establish benchmarks for a successful diplomatic pathway to COP30 in Belém, by
- reiterating the importance of the global decision to phase out fossil fuels
- outlining timelines to submit the next round of Nationally Determined Contributions (NDCs)
- advancing structural financial reforms in the run-up to the decision on the New Collective Quantified Goal (NCQG) to be taken at COP29
- urgently scaling up the quantity and accessibility of finance for adaptation and loss and damage
These FAC conclusions offer an important opportunity to provide initial guidance for the EU diplomatic priorities for 2024-2029. The submission of the next NDCs before COP30 in Belém is a decisive moment for aligning global emissions with net zero by 2050 to build a climate-safe future. The success of the UAE consensus will be judged based on decisions on climate finance at COP29 and the next round of NDCs.
This report was jointly written by E3G and Linda Kalcher, Executive Director at Strategic Perspectives.
Read the briefing here.
