Brussels (Brussels Morning Newspaper) – On Wednesday, the European Commission proposed that the EU cut its net greenhouse gas emissions by 90% by 2040, compared to 1990 levels, but also included some flexibility to ease the emissions cuts for domestic industries.
The EU Commission proposed an update to the European Union’s Climate Law, setting a target of cutting net greenhouse gas emissions by 90% by 2040.
What is the EU’s new 2040 climate target?
According to the proposal, the European Union can purchase carbon credits from developing countries and use these credits to offset 3 percentage points of the 2040 goal. This marks a new approach, as the EU’s current climate targets are based solely on reducing domestic emissions.
After consulting with member states, the European Parliament, stakeholders, civil society, and citizens, the proposal was put forward. The Commission claimed that the EU is already making significant progress toward its previous goal of reducing emissions by 55% by 2030. They also pointed to a recent survey that found 81% of citizens support reaching climate neutrality by 2050.
Why did the EU propose more flexible climate laws?
The Commission expressed the new goal
“takes fully into account the current economic, security, and geopolitical landscape and gives investors and businesses the predictability and stability they need in the EU’s clean energy transition.”
It is also committed to crafting future climate laws with more flexibility, prioritizing “cost-effectiveness, simplicity, and efficiency” while taking into account the unique conditions of each member state. The proposal will now be negotiated by the European Parliament and the Council.
In her remarks, Commission President Ursula von der Leyen said:
“As European citizens increasingly feel the impact of climate change, they expect Europe to act. Industry and investors look to us to set a predictable direction of travel. Today, we show that we stand firmly by our commitment to decarbonise the European economy by 2050. The goal is clear, the journey is pragmatic and realistic.”
How does this plan differ from the 2030 target?
The previous EU climate plan, established by the European Climate Law in 2021, set out two main targets. The first one is Climate neutrality by 2050, which includes achieving net-zero greenhouse gas emissions across the EU by 2050 and At least 55% net reduction in greenhouse gas emissions by 2030 (compared to 1990 levels) refers to intermediate target was legally binding and designed to put the EU on a clear pathway toward the 2050 goal.
