BRUSSELS 

Danish Climate Minister Lars Aagaard, the EU's chief negotiator at COP30, the UN climate change conference, said Thursday that the entire EU delegation may leave the event without an agreement if countries fail to commit to deeper cuts in greenhouse gas emissions.

Speaking at the conference in Belen, Brazil shortly before its official Friday deadline, Aagaard, acting in his role as the EU Council presidency's chief negotiator, warned that the bloc will not support a new financing target for climate adaptation in developing countries unless progress is made on emissions reductions, DR broadcaster reported.

"We want the world to come together to reduce emissions. And if we cannot be assured of that, then there will be no agreement," he said.

Talks at COP30 have become strained over competing demands for stronger CO2 reduction commitments and increased funding for climate adaptation in poorer nations. While the EU is pushing for a deal that signals a transition away from fossil fuels, developing countries are seeking firm pledges of additional climate finance in return.

The EU, however, insists it will only offer more financial support if negotiators secure an agreement that addresses the lack of global emissions cuts. "This is fundamental. If someone wants something, they must also give something," Aagaard stressed.

Developing countries and NGOs have called for tripling the current target for adaptation financing, noting that climate change impacts fall disproportionately on the world's poorest regions.

Experts argue that without sufficient financial support, developing nations will struggle to invest in the green transition and reduce their own emissions.

The 2023 conference, COP28, went into overtime to reach an agreement.