{"id":51847,"date":"2024-06-26T08:42:06","date_gmt":"2024-06-26T07:42:06","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=51847"},"modified":"2024-06-26T08:42:06","modified_gmt":"2024-06-26T07:42:06","slug":"new-european-parliament-must-act-on-climate-change-as-a-systemic-threat","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2024\/06\/26\/new-european-parliament-must-act-on-climate-change-as-a-systemic-threat\/","title":{"rendered":"New European Parliament must act on climate change as a systemic threat\u00a0\u00a0"},"content":{"rendered":"

Mikael Allan Mikaelsson is a policy fellow at Stockholm Environment Institute<\/span>. Johan Munck af Rosensch\u00f6ld, is group manager and senior research scientist at Syke (Finnish Environment Institute).<\/span><\/i>
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Europe\u2019s first comprehensive climate risk assessment, published<\/a> in May, sent a clear and unequivocal message: climate risks facing Europe have reached a critical level and urgently require decisive actions from European policymakers.\u00a0\u00a0<\/strong><\/p>\n

Yet the recent EU parliamentary elections – which delivered significant gains for Europe\u2019s far-right and dealt a blow to its green parties – alongside a recently <\/span>leaked list<\/span><\/a> of EU Council priorities for the next five years, indicate a marked U-turn in the EU\u2019s commitment to climate action.\u00a0<\/span>\u00a0<\/span><\/p>\n

The EU has faced a dramatically changed geopolitical situation over the past few years, marked by the upsurge of far-right political forces in several member states, growing trade-tensions with China, and a humanitarian disaster and heightened energy security risk caused by Russia\u2019s war in Ukraine.\u00a0<\/span>\u00a0<\/span><\/p>\n

Against this backdrop, EU policymakers have had to make tough decisions on strengthening security in Europe, diverting their attention to defense, security and migration issues, although this has come at the expense of the EU\u2019s much flagged international climate leadership and green agenda.\u00a0<\/span>\u00a0<\/span><\/p>\n

IEA calls for next national climate plans to target coal phase-down<\/strong><\/a><\/p><\/blockquote>\n

We argue that the EU should stay the course on climate action. Despite geopolitical turns and a backlash from some industries over legislation brought on by the Green Deal, European policymakers have a responsibility to follow through on climate commitments – and thereby avoid the tremendous risks that face us if they do not.<\/span>\u00a0<\/span><\/p>\n

Exacerbating geopolitical risks<\/span><\/b>\u00a0<\/span><\/h3>\n

Protests have included those by European farmers against sustainability provisions in the EU\u2019s Common Agricultural Policy. Recently, the EU Council only just managed to approve the highly anticipated, but embattled Nature Restoration Law, thanks to a rare display of political defiance by the Austrian environment minister.\u00a0<\/span>\u00a0<\/span><\/p>\n

The law provides critical policy levers for improving Europe\u2019s much degraded ecosystems, strengthening their resilience towards climate change. Hence this vote was critical, although it <\/span>may still face a legal challenge.\u00a0<\/span><\/a>\u00a0<\/span><\/p>\n

Despite dilution, officials say new nature law<\/strong> can restore EU carbon sinks<\/a><\/p><\/blockquote>\n

There is ample irony in the notion that political efforts and financial resources should be diverted to enhance Europe\u2019s defence and security capabilities and strengthen the EU\u2019s external borders from human migration. Climate change is certain to exacerbate the impacts and risks from geopolitical conflicts and wars and will be the <\/span>mega-driver of migration<\/span><\/a> over the coming years.<\/span>\u00a0<\/span><\/p>\n

And while legislation that requires businesses to take action on climate change and biodiversity loss is certainly going to be burdensome for some, these costs pale in comparison with the effects that climate change will have on the European economy.\u00a0<\/span>\u00a0<\/span><\/p>\n

Corporate credit rating downgrades due to companies\u2019 exposure to climate risks have already accelerated, according to <\/span>S&P Global<\/span><\/a>. <\/span>And climate-induced disruptions of supply chains are likely to cost the global economy up to <\/span>$25 trillion<\/span><\/a> over the next 35 years under the current trajectory. Much of this cost will be borne by businesses.<\/span>\u00a0<\/span><\/p>\n

Ways to protect Europe<\/span><\/b>\u00a0<\/span><\/h3>\n

EU-level policies are currently dangerously inadequate to safeguard European lives and livelihoods from the majority of the potentially catastrophic threats that will loom over Europe in the coming years and decades.\u00a0<\/span>\u00a0<\/span><\/p>\n

But there are solutions, if bold action is taken in the following areas:<\/span>\u00a0<\/span><\/p>\n