COP26: EU’s global trading partners miss out on solid 2030 commitments
Today the global climate conference COP26 in Glasgow ended without sufficiently ambitious announcements for Nationally Determined Contributions (NDCs) by the EU’s largest trading partners.
BusinessEurope Director General Markus J. Beyrer said: "What we saw in Glasgow is a lack of national pledges by the EU’s largest trading partners. While we see some progress on long-term ambitions, we’re concerned by the lack of their 2030 targets, which would have made the international ambition level more comparable to that of the EU. The EU will have to maintain a strong carbon leakage regime in the face of a persistent ambition gap. Negotiations on 2030 goals are to be continued next year at ministerial level and we hope for more commitment there.
A positive result from Glasgow is that, five years after Paris, we finally have a framework on cooperative approaches under Art. 6. Now this framework needs to be rapidly put on track by all parties to allow countries and the private sector to invest in emission reductions wherever they can be achieved the easiest.
The business community will be a key partner in the implementation of the agreement. We stand ready to further support the transition – developing and implementing the innovations needed to make it successful – with the right policy framework in place."