In a frank and constructive exchange, they agreed to increase cooperation on tackling the climate crisis, which no single country can solve on its own. Both parties wholeheartedly underlined that climate science shows the urgency of action in this decade to meet the targets of the Paris Agreement. The impacts of the climate crisis are dramatically felt both in China and the EU and remind us of the responsibility to fully commit to emissions reductions while making our economies more resilient.
They discussed the key issues at stake at COP28 including the Global Stocktake, decarbonisation of the energy systems, climate adaptation, climate finance and carbon pricing, and the operationalisation of the loss and damage fund.
Commissioner Hoekstra highlighted the importance of ambition on emission reductions at COP28 via the outcome of the Global Stocktake. In particular he raised the importance of peaking global emissions as soon as possible this decade, and of tripling renewable energy capacity, and doubling energy efficiency measures by 2030, to contribute to the phase out of fossil fuels. They discussed at length what the end of coal and other fossil fuels means for industrial restructuring and how to make these efforts compatible with energy security concerns.
On the issue of climate finance, the Commissioner underlined that all parties able to contribute should do so in general, and in particular for the loss and damage fund. He also recalled the EU’s role as the world’s largest provider of international climate finance.
Commissioner Hoekstra agreed to work closely together with Special Envoy Xie ahead of and during COP28 to ensure a successful outcome for all parties. Decades of continuous cooperation by the EU and China in the multilateral climate negotiations provide a strong foundation.
Commissioner Hoekstra commended Special Envoy Xie on China’s massive increase in renewable energy capacity over recent years. Beyond COP, he committed to continue close EU-China cooperation on climate issues such as carbon pricing and the implementation of the Carbon Border Adjustment Mechanism (CBAM), measuring and reducing methane emissions, and scientific analysis. The Commissioner also raised concerns from the European side about the global level playing field, and expressed his commitment to creating mutual benefits from the green transition in areas such as innovation, clean technologies and industrial decarbonisation.