The ECOFIN Council adopted conclusions on climate finance that gave EU negotiators a mandate for the 23rd Conference of the Parties (COP23) of the UN Framework Convention on Climate Change. A new theme that has proved to be the centre of gravity of the Paris negotiations was born out of the fact that many of the worst effects of climate change will be too severe or will come too quickly to be avoided by adaptation measures. The Paris Agreement explicitly recognizes the need to repair such losses and damages and seeks to find appropriate responses.  It is specified that losses and damage can take different forms, both as immediate effects of extreme weather events and as slow effects, such as land loss at sea level for deep islands.  At the Environment Council meeting, ministers discussed the follow-up to the Paris agreement on climate change and its impact on EU climate policy. The initial commitment period of the Kyoto Protocol was extended until 2012. This year, at COP18 in Doha, Qatar, delegates agreed to extend the agreement until 2020 (without some industrialized countries withdrawing). They also reaffirmed their commitment made at COP17 in Durban, South Africa, in 2011, to create a new global climate treaty by 2015 that would require all major emitters not included in the Kyoto Protocol, such as China, India and the United States, to reduce their greenhouse gas emissions. The new treaty – which was to become the Paris Agreement – was to completely replace the Kyoto Protocol by 2020. However, the Paris agreement came into force earlier than expected in November 2016. As soon as the European Parliament gives the go-ahead, the closing decision will be formally adopted by the Council.
The EU will then be able to ratify the agreement. The EU will become the first climate-neutral continent by 2050 The Economic and Financial Affairs Council has adopted conclusions on the financial aspects of climate change in the run-up to the UN Climate Change Conference (COP25). The EU and its Member States remain the leading provider of public climate finance. Their total contributions amounted to 21.7 billion euros in 2018, compared to 20.4 billion in 2017. This recent figure reflects the EU`s determination to increase its international contribution to the fight against climate change by 2020 and by 2025 to the target of $100 billion per year for industrialized countries. Thus, the United States will cease today all implementation of the non-binding Paris Agreement and the draconian financial and economic burdens that the agreement imposes on our country. It also means ending the implementation of the national contribution and, most importantly, the Green Climate Fund, which is costing the United States a huge fortune. Here`s a look at what the Paris agreement does, how it works and why it is so crucial to our future.
They also agreed on the organization of the «Talanoa» dialogue in 2018. It will provide space to assess the joint progress made next year at COP 24 in Poland to achieve long-term climate goals. The Environment Council has adopted conclusions that define the EU`s position for the UN climate change conference to be held in Paris. Ministers agreed that the EU intends to reach an ambitious, legally binding and dynamic agreement to keep global warming below 2oC. In addition to formal intergovernmental negotiations, countries, cities and regions, businesses and civil society members around the world are taking steps to accelerate climate cooperation efforts to support the Paris Agreement as part of the Global Climate Agenda. By analysis by the Intergovernmental Panel on Climate Change (IPCC), a carbon «budget» based on total emissions of carbon dioxide into the atmosphere (relative to the annual emission rate) has been estimated to limit global warming to 1.5 degrees Celsius and 2.25 trillion tonnes from the 1870 period.