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59m ago

European Parliament Backs 90% by 2040 Climate Target With Limited Carbon Credits

The vote triggers talks with EU governments to finalize the law during COP30.

European Commission Executive Vice-President for Clean, Just and Competitive Transition Teresa Ribera attends a press conference on an EU climate target for 2040 which may allow countries to use carbon credits from developing countries to meet a limited share of the goal, in Brussels, Belgium July 2, 2025. REUTERS/Yves Herman
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium July 16, 2025. REUTERS/Yves Herman
The landmark European law on corporate sustainability was hailed by green and civil society groups but loathed by firms
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Overview

  • Lawmakers approved the position 379–248, with 10 abstentions, clearing the way for interinstitutional negotiations on the final text.
  • From 2036, up to five percentage points of the target could be met using high‑quality international carbon credits, with Parliament seeking strict safeguards.
  • Reuters reports the credit allowance effectively lowers required domestic cuts to about 85% from 1990 levels, compared with a 90% net goal.
  • MEPs backed delaying the start of the EU’s ETS2 for buildings and road transport by one year to 2028.
  • The text requires biennial Commission reviews using the latest science and economic data, with potential proposals to amend the climate law if warranted.