However, EU diplomats were not disappointed by the Council`s result and even welcomed the fact that Member States had agreed before the Cop25 in Chile, which was the main objective of the meeting. The Paris Agreement aims to limit global warming to a level well below 2 degrees Celsius and limit its efforts to 1.5 degrees Celsius in order to avoid the disastrous consequences of climate change. It was signed by 194 countries as well as by the European Union. All EU countries are signatories themselves, but they coordinate their positions together and set common targets for reducing emissions at EU level. Due to the COVID 19 blockade and the economic recession, EU emissions are expected to fall by 10-11% in 2020 compared to 2019. This would result in an overall decrease of 34-35% in 2020 from 1990 levels. The economic recovery in 2021 is expected to result in a 2% increase in emissions compared to 2020. The measures already implemented at the national level of the Member States will result in a reduction in emissions of around 37% in 2030 compared to 1990 levels. Achieving the EU`s renewable energy and energy efficiency targets will result in a 48% reduction in emissions by 2030. This indicates that the EU is on the verge of meeting – or even exceeding – its current emissions reduction target by 2030. A significant reinforcement of this objective is therefore not only achievable, but also necessary to meet the Paris Agreement`s requirement to reflect «the highest possible ambitions». In the run-up to the Paris climate change conference, the EU presented its planned national contribution (INDC) to the secretariat of the United Nations Framework Convention on Climate Change (UNFCCC). The EU`s INDC expresses the EU`s commitment to the negotiation process for a new legally binding agreement on climate change to keep global warming below 2oC.
It also reaffirmed the binding target of reducing domestic greenhouse gas emissions by at least 40% by 2030 compared to 1990, as indicated by the conclusions of the European Council in October 2014.
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