Thread by @ecfr

#Climate negotiations are entering a new & challenging phase. Many countries need to do more to lower greenhouse gas emissions to keep the targets in the 2015 #Paris agreement alive.

Read our latest policy brief by @AnthonyDworkin & @MatsEngstrom⬇️
buff.ly/3Dp5zAU

Ahead of #COP27, multilateral climate negotiations are stalling due to geopolitical tensions, distrust between the global south and high-income countries, and concerns about #energysupplies.
@ECFRPower

It is necessary to move faster in implementing #emissions-reduction measures, but the need for consensus in the global #climate process makes this difficult.

At the same time, drivers of action on #climatechange are evolving, with countries now competing for economic advantage in new green #technologies.

The 🇪🇺 and its partners are right to combine negotiations under the🇺🇳#UN climate convention with initiatives that bring together like-minded and ambitious countries to accelerate industrial transformation.

To be effective and legitimate, these efforts should remain rooted in the multilateral system and incorporate substantial #climate funding for emerging #markets and lower-income countries.

🇪🇺 institutions and member states should also work to strengthen the capacity of multilateral institutions to support efforts on #climatechange.