Monday, September 19, 2016

Reports: EU 'stands ready' fast-track Paris Agreement ratification

Fast-track ratification, which could see the EU approve the climate deal within a month, will need the backing of all 28 national environment ministers

The EU is looking to fast-track the ratification process for the Paris Agreement, in a move which could see the trading bloc formally approve the treaty in a matter of weeks.

Speaking on Friday after an informal summit of leaders in Bratislava, French President Francois Hollande said the EU is preparing to ratify the accord "as soon as possible".

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"Not only will the European Parliament vote in October; now all members of the European Union stand ready to ratify the accord as soon as possible," Hollande said.

According to Reuters, environment ministers from all 28 Member States will gather at an extraordinary meeting on September 30 to discuss the fast-track ratification proposals. If the motion is unanimously approved, the EU could complete its approval procedure by October 7.

The trading bloc is coming under increasing pressure to formally ratify the Agreement after China and the US formally approved the treaty earlier this month.

A UN event in New York later this week is expected to see at least another 20 countries ratify the agreement, pushing the total number of ratified countries to 47.

Last week EU Commission President Jean-Claude Juncker warned Europe's tardiness in ratifying the agreement could prove an international embarrassment for the bloc. "We were climate change pioneers in Paris," he said. "Dragging our feet on ratification affects our credibility and makes us look ridiculous."

An agreement to fast-track the EU's ratification process could position the EU - which represents 12 per cent of global emissions - as the trigger for the Paris Agreement to enter into force. The climate treaty needs 55 countries, representing at least 55 per cent of global emissions, to formally deposit their instruments of ratification with the UN to take effect.

It was previously thought the EU would wait for each member state to formally ratify the Agreement before the bloc delivered its paperwork to the UN, but the fast-track process could see formal ratification of the bloc occur ahead of individual countries.

Member States of the EU would still have to ratify the agreement at a national level, but the fast-track move would allow the EU's 12 per cent of global emissions to be counted towards the total needed to bring the Paris Agreement into force. However, only EU states which have already formally ratified the Paris Agreement would be counted towards the number of countries which have formally ratified.

The attempt to speed up the ratification process could also lead to tensions with a handful of EU member states, led by Poland, which are thought to be pushing for greater support for carbon intensive industries as part of bloc-wide efforts to slash emissions over the coming decades.

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