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2mo ago

EU Moves 90% Emissions-Cut Target for 2040 to Lawmakers Under Tight Timeline

Legislative approval must be won under time pressure with carbon credit rules still unfinished.

Rauch steigt aus Schornsteinen von holzverarbeitenden Industriebetrieben am Seehafen Wismar auf.
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Overview

  • The European Commission has proposed a binding interim climate target to slash greenhouse gas emissions by 90 percent by 2040 compared with 1990 levels.
  • Member states would be allowed to use internationally recognized carbon credits to cover up to three percent of their emissions from 2036 onwards.
  • The proposal now enters talks in the European Parliament and with member states under a tight timeline ahead of a September UN deadline for the EU’s 2035 climate plan.
  • Key implementation details, including quality standards for imported carbon credits, remain undefined and must be agreed before the target becomes binding.
  • Reactions are split, with municipal utility associations warning the target is unrealistic and industry groups endorsing credit flexibility but demanding clear rules.