COP25: ‘The European Green Deal gave an important signal. We need more of this’

(EurActiv, 16 Dec 2019) The longest in the history of UN climate negotiations, the COP25 ended on Sunday (15 September) with almost no significant decisions being made. Julia Panzer gives her take about the business implications of the Madrid climate talks.

Julia Panzer is Head of Public Affairs and Sustainability at Danfoss, the Danish technology company. She answered in writing to questions by Claire Stam.

Negotiators failed to reach an agreement on carbon markets at COP25. In the final hours of negotiations, over 30 governments joined behind the San Jose Principles in an effort to preserve the integrity of carbon market rules and prevent loopholes and the ability for double-counting carbon credits. As a member of the ‘We mean business’ coalition, Danfoss supports the idea of carbon-pricing. What is your take on the final UNFCCC text on Article 6?

The problem is not the final text – the problem is the final text that countries could agree on, which is not strong enough to respond to the climate emergency we are in.

This means negotiations are stalling yet again, and countries need to step up individually in the lead-up to COP26 to revitalise the process towards 2020. The majority of countries agrees with what is needed: an energy transition first and foremost. An industrial transition. And nature-based solutions, with a focus on oceans and forests to balance our global climate.

Science should guide us, just as in Denmark, where we are headquartered. The Danish government came to COP25 with a strong message and a 70% CO2 reduction target, having asked science what’s necessary, not what’s possible. This is the type of leadership we need.

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EurActiv, 16 Dec 2019: COP25: ‘The European Green Deal gave an important signal. We need more of this’