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yesterday

EU to Propose 90% 2040 Emissions Cut with Carbon Credit Flexibility

It aims to bridge member state disagreements through international carbon credits as a tool to reach the new emissions goal.

Wind turbines spin in front of the Atlantic Ocean near Zahara de los Atunes, Spain May 27, 2025. REUTERS/Nacho Doce/File Photo
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Overview

  • The European Commission will unveil its legally mandated 2040 climate target on July 2 after delaying it from March due to limited backing.
  • The proposal seeks a 90% net reduction in greenhouse gas emissions by 2040 compared with 1990 levels.
  • Flexibility measures would set domestic reduction targets below 90% and let member states purchase international carbon credits to cover the remainder.
  • Finland, the Netherlands and Denmark support the goal; Italy and the Czech Republic oppose it.
  • Germany conditions its support on allowing up to a 3% contribution from international carbon credits.