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EU demands 'transactional' climate talks
5 Feb
Summary
- EU must use financial and trade leverage in climate talks.
- EU feels isolated as US withdraws from Paris Agreement.
- Many countries haven't updated climate pledges since last year.
The European Union needs to become more "transactional" in global climate negotiations, using its financial and trade influence more assertively. This call to action comes from the French ecology ministry ahead of a meeting of EU environment ministers. The EU feels increasingly isolated in these discussions, especially since the United States withdrew from the Paris Agreement.
The bloc, a significant provider of climate finance, is considering whether to continue supporting countries that have not fulfilled their Paris Agreement commitments. As of the current date, over 60 countries, including major recipients like India and Egypt, have yet to submit updated emission reduction plans. The French ministry suggests leveraging trade agreements as a tool for compliance.
Ministers will also discuss implementing a European strategy for water resilience and challenges related to the circular economy and the plastics recycling market.
