The European Union has today released its first Biennial Transparency Report (BTR) at COP29, ahead of the end of year deadline. The submission of BTRs is a significant milestone in the implementation of the Paris Agreement, which marks the beginning of a new era of accountability and collaboration in the global fight against climate change, as outlined under the Enhanced Transparency Framework of the Paris Agreement.
The EU’s first BTR underscores the Union’s commitment to transparency, accountability, and climate ambition. The report provides details the progress towards reaching the 2030 target, progress in assessing the effects of EU climate policies and measures in reducing greenhouse gas emissions and building resilience to climate change, as well as contributions to international capacity building and climate finance.
Director-General for Climate Action Kurt Vandenberghe said, “Our first Biennial Transparency Report demonstrates that the EU is on track to meet its climate goals and is actively supporting global efforts to combat climate change. Today’s publication is important as it builds trust and enables us to act together with greater determination and urgency.”
Highlights of the EU’s first BTR include:
- Significant emission reductions: As of 2022, the EU’s net greenhouse gas emissions had fallen by 31.8%since 1990[1]. Preliminary data published in the Climate Action Progress Report shows a further drop of 8% in 2023, which would represent a total reduction of 37% since 1990.[2]
- Future climate targets: The EU has laid out a potential pathway to a 90% net greenhouse gas emissions reduction by 2040, ensuring progress toward climate neutrality by 2050.
- Support for developing countries: In 2023, the EU and its Member States contributed €28.6 billion in public climate finance and mobilised an additional €7.2 billion in private finance for developing countries to reduce emissions and adapt to climate impacts.
The EU’s climate policies, including a robust emissions trading system and investments in clean energy, transport and industry, are detailed in the report. The document also highlights how the EU is working to enhance its preparedness for climate impacts building on the European Climate Risk Assessment and preparing a new EU Adaptation Strategy.
In the context of international climate action, transparency means the reporting and review of relevant climate information and data. The BTRs help build mutual trust and confidence among countries. By providing a regular update of the progress made towards commitments and making it possible for governments, industry and society more broadly to assess which lessons to be drawn from successful climate policies. “Global challenges require collective solutions,” Kurt Vandenberghe added. “The EU is committed to sharing lessons learned on how to achieve an economy-wide and just transition, supporting developing countries, and intensifying cooperation with global partners to ensure a sustainable and climate-resilient future for all.”
As the world prepares for the next phase of climate ambition following the first Global Stocktake under the Paris Agreement, the EU’s BTR is a crucial tool to enhance mutual trust, inspire action, and foster collaboration.
Background
The EU is a global leader in climate action, spearheading initiatives to achieve climate neutrality by 2050. At COP29, the EU remains committed to driving international cooperation and innovation to address the urgent climate crisis.
More Information
Commission Report: The EU’s Biennial Transparency Report 2024
Submission to the UNFCCC: The First Biennial Report from the European Commission to the UNFCCC under the Enhanced Transparency Framework
First Biennial Transparency Reports (UNFCCC)
EU Climate Action Progress Report
EU at COP29 Press Release
[1] Emissions based on the NDC scope. Emissions under the EU GHG inventory were 32.6% below 1990 levels in 2022.
[2] Approximated GHG emissions data for 2023, which will be reflected in the 2023 Greenhouse gas inventory to be reported in 2025.
