EU countries give final approval to 2040 climate target for 90% emissions cut
Sign up now: Get ST's newsletters delivered to your inbox
The EU’ new target to cut greenhouse gas emissions by 90 per cent by 2040 is a hard-fought political compromise.
PHOTO: AFP
BRUSSELS – European Union countries gave the final approval on March 5 to a new climate target to slash greenhouse gas emissions by 90 per cent by 2040, pressing ahead with the bloc’s ambitious climate agenda despite political resistance.
The new climate target is a hard-fought political compromise, struck by governments and EU lawmakers in 2025. It is more ambitious than most major economies’ emissions-cutting commitments, including China’s.
In practice, the target will require an 85 per cent emissions reduction from European industries against 1990 levels. The EU will pay developing countries via carbon credits, so they cut emissions on Europe’s behalf to make up the rest to reach 90 per cent.
The EU agreed on the target in 2025 following months of wrangling among countries.
Spain said worsening droughts and wildfires justified more ambitious goals. Poland and Italy, on the other hand, sought to soften the emissions cuts, arguing that struggling industries cannot afford the upfront investments.
A reinforced majority of EU countries’ ministers gave the final formal sign-off
As part of the agreement, the EU will also consider the option to use international carbon credits to meet a further 5 per cent of its 2040 emissions reductions, potentially further softening the domestic efforts required.
The deal also delays the launch of a politically sensitive new EU carbon market by one year, to 2028, a move designed to win over countries sceptical of the climate goal.
The target, which is designed to keep Europe on track to meet its pledge to reach net-zero emissions by 2050, falls short of the 90 per cent domestic emissions cut recommended by the EU’s climate science advisers.
It is also weaker than Brussels’ original plan for the goal, reflecting disagreement between EU governments over the speed and cost of their green agenda. REUTERS
