We’ll always have Paris: How to adapt multilateral climate cooperation to new realities

Summary:

Ahead of COP27, multilateral climate negotiations are stalling due to geopolitical tensions, distrust between the global south and high-income countries, and concerns about energy supplies. It is necessary to move faster in implementing emissions-reduction measures, but the need for consensus in the global climate process makes this difficult. At the same time, drivers of action on climate change are evolving, with countries now competing for economic advantage in new green technologies.

The EU and its partners are right to combine negotiations under the UN climate convention with initiatives that bring together like-minded and ambitious countries to accelerate industrial transformation. To be effective and legitimate, these efforts should remain rooted in the multilateral system and incorporate substantial climate funding for emerging markets and lower-income countries. EU institutions and member states should also work to strengthen the capacity of multilateral institutions to support efforts on climate change.

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