Speech by President von der Leyen at the United Nations Climate Change Conference (COP31)

Mr President,

Heads of State and Government,

Excellencies,

This summer was the summer of truth. Devastating floods in Nepal, droughts from Sudan to Central America and, in Europe, one of the worst wildfire seasons on record. At the same time as the climate crisis is unfolding, disruptions of energy supplies through the Strait of Hormuz are shaking global energy markets. The world is witnessing the cost of continuing with the status quo, for our climate and for our energy security. We are at a global tipping point. The latest United Nations report is clear. We are on course to overshoot the 1.5-degree target, and every fraction of a degree matters. So, we must double down, and Europe will play its part. Let me highlight three points. First, we deliver on our climate commitments. We are on track to meet our 2030 climate target of cutting emissions by more than half, and we have set course to cut emissions by 90% by 2040. This will be a major step towards becoming the first climate neutral continent by 2050.

My second point, we are accelerating electrification. The world has now entered the Age of Electricity. Therefore, I support the 35-by-35 Global Electrification Pledge, and I encourage others to do the same. The International Energy Agency has shown us that the 35-by-35 goal is within reach, and that achieving it could bring valuable benefits: lower consumer energy bills, lower energy emissions, greater energy security. Last year in the European Union, more than 70% of our electricity came from clean sources, and we will go further. Our Electrification Action Plan aims to double electricity in final energy use to 46% by 2040. This will be a major step towards becoming the first electro-powered continent.

And my third point, we are strengthening global partnerships. The clean transition can only succeed if it succeeds worldwide. Europe is the world's largest provider of climate finance. Last year, we contributed more than €32 billion to support developing countries. And through Global Gateway we have mobilised more than €300 billion in sustainable investments. We are helping our partners to build clean economies, because the clean transition is in our common interest.

Excellencies,

The science is clear. The climate impacts are increasingly clear. But the future is still ours to decide. And Europe will work with all of you to tip the scales in our favour.

Thank you very much.