European countries pledge to reach US$ 100 billion to finance climate

Climate change

CELAC-European Union Summit announced after meeting in Brussels

This Tuesday (18) ended the 3rd Summit of the Community of Latin American and Caribbean States (Celac) and the European Union (EU), in Brussels, Belgium, where the headquarters of the European bloc is located. The meeting brought together 60 leaders from both continents, including President Luiz Inácio Lula da Silva. The event has not taken place since 2015 and was held in a scenario of rapprochement between Europeans and Latin Americans.

The summit’s final declaration, released by the foreign ministries of the countries, has more than 40 points and covers several topics of common interest. One of the points, which has been the target of demands from governments of poor and developing countries, refers to the availability of resources, by the richest nations, to finance mitigation and adaptation projects in relation to climate change.

“We recognize the impact that climate change is having on all countries, particularly affecting the most vulnerable developing countries, including small island developing States, in the Caribbean, the ultra-peripheral regions of the European Union, countries and territories overseas countries associated with the European Union and landlocked developing countries. We underscore the importance of fulfilling the commitment of developed countries together to promptly mobilize US$100 billion a year for climate finance and to support developing countries and double adaptation finance by 2025”

says an excerpt from the statement.

In his speech at the opening of the summit, Lula again criticized rich countries for not fulfilling the promise, made in 2009, to allocate US$ 100 billion a year to developing countries, as a form of compensation for the global warming crisis. and the need to contain carbon emissions, to maintain the target of an increase of up to 1.5 degrees Celsius in the temperature of the planet by the end of the century, the most ambitious objective of the international community.

The statement points “deep concern over the ongoing war against Ukraine” and calls for just and sustainable peace efforts in the region. At another point, he addresses the serious humanitarian situation in Haiti, promising international efforts to help the country overcome the complex crisis it has been experiencing for decades. Regarding Venezuela, the text defends a constructive dialogue between the parties in the negotiations led by Venezuela in Mexico City.

The same subject was discussed in a parallel meeting involving the presidents of France, Brazil, Argentina and Colombia, as well as a representative of the European Union, with the Venezuelan government and opposition.

The document also reaffirms various commitments in the areas of fair trade, health, public safety, combating poverty and inequality. The next Celac-UE summit should be held in 2025, this time in some Latin American or Caribbean country.

On his last day on this trip to Belgium, President Lula held bilateral meetings with heads of government from Germany, Sweden, Denmark and Austria. He also participated in a breakfast with Latin American and European progressive and democratic leaders. Lula returns to Brazil on Wednesday morning (18th), after holding a press conference in Brussels.

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