EU Seals 2040 Climate Deal Targeting 90% Emissions Cut Before COP30

Overview

• The agreement sets a 90% net reduction in greenhouse-gas emissions by 2040 versus 1990 levels after overnight talks in Brussels.
• Member states can count up to 10% in carbon credits toward the target, with 5% allowed now and a possible additional 5% at the next climate law review.
• The bloc adopted a 2035 interim goal in a 66.25% to 72.5% reduction range to present at the UN negotiations in Belém.
• The extension of the EU carbon market to road transport and building heating will shift from 2027 to 2028 to ease the rollout.
• The deal introduces a two-year review cycle for the climate law, drawing criticism from environmental groups for diluting ambition.