Pollution (illustrative image), Photo: David J. Phillip / AP / Profimedia
The European Union agreed on Wednesday to set a legally binding climate target to cut greenhouse gas emissions by 90 percent from 1990 levels by 2040 and to buy carbon credits from abroad to cover 5 percent of emissions reductions – targets that are below the original plan.
Negotiators from EU member states and the European Parliament reached the agreement in the early hours of Wednesday, confirming this in separate statements.
In practice, the target will require an 85% reduction in emissions from European industries, as well as payments to developing countries through carbon credits to reduce emissions on behalf of Europe, offsetting the rest.
The target exceeds the emissions reduction commitments of most other major economies, including China. However, it was below the level recommended by the EU's climate science advisers and weaker than Brussels' original plan, reflecting disagreements between member state governments and industry over the pace and costs of the green agenda.
The EU says the deal meets current needs
“The target meets the need for climate action while protecting our competitiveness and security,” said Danish climate minister Lars Aagaard, who negotiated the deal on behalf of EU governments.
The EU also agreed to consider, in the future, the option of using international carbon credits to achieve a further 5% of emissions reductions from 2040 – a measure that could further relax the domestic efforts required.
The target, designed to keep Europe on track towards a commitment to reach net-zero emissions by 2050, represents a political compromise after months of negotiations.
Countries such as Poland, Slovakia and Hungary have opposed deeper cuts in CO₂ emissions, seeing them as too burdensome for industries facing high energy costs, cheaper Chinese imports and US tariffs.
Other member states, including the Netherlands, Spain and Sweden, cited increasing extreme weather events and the need to catch up with China in green technology production as reasons for setting the ambitious target.
To win back the support of opponents, the EU also agreed to delay the launch of a carbon price on fuels by a year to 2028 – a politically sensitive move.
Parliament and EU member states must each approve this target for it to become law – usually a formality that validates previously agreed agreements.
