As the 2024-2029 EU cycle begins, the EU has an opportunity to solidify its role as a climate leader and global competitor. To do this, it must reform its climate diplomacy strategy to respond to the shifting geopolitical landscape and worsening climate crisis. The EU faces increased competition from China and the US in cleantech, changing economic and security interests, and rising geopolitical tensions, all of which could threaten its competitive position. This comes at a time when the impacts of the climate crisis are increasingly apparent in Europe and around the globe.