UN Climate Summit COP24: Deal on the Rulebook is a step forward

On Saturday evening governments at the UN global climate summit COP24 in Katowice, Poland reached an agreement. After years of negotiations, it is positive to see that the “Paris Rulebook” has been agreed upon. Throughout the two weeks, the COP24 Presidency has worked hard and the EU was mobilised to promote a set of strong monitoring, verification and accounting rules.

BusinessEurope Director General Markus J. Beyrer said: “We were expecting even more guarantees that all major economies will apply the same rules, but the end result brings us one step forward. That is important to acknowledge.”

These common rules are key for European businesses because many of them compete on global stage. As stressed during our joint event with the European Commission in Katowice, these rules are crucial to give clarity and guarantees to companies to enhance their business activities and investments in zero- and low-emissions solutions.

“Much more work will be required to create the conditions for a collective effort to enhance global emissions reduction. All major economies will need to deliver on this ambitious agenda. The European business community stands ready to work with policymakers.”