Von der Leyen: World approaching global turning point

The world is approaching a global tipping point amid the climate crisis and threats to energy security, European Commission President Ursula von der Leyen said during her speech at a high-level meeting within COP31, Report's correspondent in Antalya informs.

According to her, this summer was marked by devastating floods in Nepal, droughts from Sudan to Central America and in Europe, and one of the most severe wildfire seasons on record.

"At the same time as the climate crisis is unfolding, disruption of energy supplies through the Strait of Hormuz is shaking global energy markets," she said.

According to her, the world is already feeling the consequences of maintaining the current course for both the climate and energy security.

"The latest United Nations report is clear. We are on course to overshoot the 1.5C-degree (2.7F-degree) target, and every fraction of a degree matters. So, we must double down, and Europe will play its part," von der Leyen emphasized.

She noted that the EU intends to reduce emissions by more than half by 2030 and by 90% by 2040.

This will be an important step towards making Europe the first climate-neutral continent by 2050, the head of the European Commission stated.

According to her, last year, more than 70% of electricity in the European Union was generated from clean sources. The EU's electrification action plan envisages increasing the share of electricity in final energy consumption to 46% by 2040.

"The clean energy transition can only be successful if it is implemented globally. Europe is the world's largest provider of climate finance. Last year, we allocated more than 32 billion euros (approximately $35.5 billion) to support developing countries, and mobilized more than 300 billion euros (approximately $333 billion) in sustainable investments under the Global Gateway initiative," she noted.