The co-signatories of this letter represent a broad group of business associations, civil society, think tanks and other organisations who are working together to bring strong support to the EU’s commitment to achieve the UN Sustainable Development Goals and the Paris Climate Agreement objectives.
They have written to the President of the European Commission Jean-Claude Juncker to urge him to ensure that the EU’s future finances are aligned with Europe’s climate objectives and are consistent with the Paris Climate Agreement and Sustainable Development Goals across all programmes.
This letter from the Development Assistance Committee (DAC) CSO Reference Group sets out key priorities for OECD DAC members on reforming climate finance to support resilient, Paris-aligned recovery in developing countries and to support their implementation of the Paris Agreement, ahead of their October High Level Meeting.
To ensure we reach net zero emissions by 2040, EU Member States need to phase out fossil fuels and commit to a strong reduction in energy consumption and a transition of our energy system to one that is 100% based on sustainable renewable energy sources (RES) by 2040. The current 2030 EU RES target is not in line with the Paris Agreement objective to limit temperature rise to 1.5°C.