The landmark Paris Agreement – adopted by nearly 200 countries – set out an action plan to put the world on track to avoid negative effects of climate change. The Agreement gives a clear direction for a global transition to low emissions, climate-resilient economies and societies.
Unfortunately, we already see how the sum of emissions reduction targets put forward by parties in Paris will not be enough to reach our common objective of limiting global warming to well below 2°C in comparison to pre-industrial levels, let alone 1.5°C.
The EU is well ahead in putting in place its domestic legislative framework to deliver on its target of cutting domestic greenhouse gas emissions by at least 40% by 2030, compared to 1990 levels. We are also looking beyond 2030, as the European Commission will be preparing a strategy for long-term EU greenhouse gas emissions reduction.
The EU remains fully committed to doing its part by delivering on meeting the set targets and by supporting actions across the globe. The EU, its Member States and the European Investment Bank contributed EUR 20.2 billion in public climate finance and the EU remains committed to the collective goal to mobilise USD 100 billion a year in climate finance by 2020.
2018 will be a crucial year for international climate change cooperation as some key events will be held: the Talanoa Dialogue and the adoption of the Paris Agreement work programme at the COP 24 in Katowice, Poland. We trust that Bosnia and Herzegovina will join the EU in supporting these exceptionally important efforts towards building a more sustainable, safe and secure future for the generations to come.
