Overview
- EU ministers approved a 90% emissions-cut target by 2040 versus 1990, allowing international carbon credits up to 10% and adding a two‑year review clause.
- The bloc also adopted a 2035 NDC range of 66.25–72.5% and delayed by one year the new carbon market for road transport and heating.
- Environmental groups condemned the concessions as watering down ambition, while EU officials said the compromise ensures they arrive in Belém with an agreed plan.
- Brazil’s Tropical Forests Forever Facility is slated for launch at COP30, seeded with $1 billion and hosted by the World Bank, aiming to reward countries keeping annual deforestation below 0.5% by leveraging $25 billion in public risk capital to attract about $100 billion from private investors.
- UNEP’s latest Emissions Gap Report projects 2.3–2.5°C warming even if pledges are fully implemented, reinforcing calls to shift COP from negotiation to implementation.