The European Union plans to cut greenhouse gas emissions by 90% by 2040 and, for the first time, allow limited use of foreign carbon credits to meet the target.
For the first time, up to 3% of this target could be met using carbon credits from developing countries, starting in 2036.
This shift comes amid pressure from countries such as Germany, France, and Italy, seeking flexibility for domestic industries facing economic strain.
The credits, intended for projects such as forest restoration, would be subject to strict standards, but critics argue they may divert funds from local climate efforts.
The proposal also lets countries choose which sectors contribute most to their emissions cuts.
While aimed at reinforcing the EU’s 2050 net-zero goal, the plan still needs approval from member states and lawmakers.
The EU must submit a revised 2035 climate target to the United Nations by mid-September.
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Armenian Foreign Minister Ararat Mirzoyan announced the successful conclusion of negotiations with the European Union on a new Partnership Agenda following the official visit of EU High Representative for Foreign Affairs and Security Policy Kaja Kallas to Yerevan.
The European Union has extended the restrictive measures on Russia for an additional six months, until 31 January 2026, due to the Moscow's ongoing actions destabilizing the situation in Ukraine.
When European Union leaders agreed in April to hold a summit with China in late July, they believed they would enter the talks from a position of strength.
Russia has imposed access restrictions on 15 European media outlets, citing the European Union’s earlier sanctions against Russian media.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Global temperatures in 2024 exceeded the crucial 1.5°C threshold above pre-industrial levels for the first time, marking a serious warning for the world’s climate goals under the Paris Agreement, scientists said.
Wildfires and a severe heatwave sweeping across Europe have claimed the lives of two people in Spain and another two in France, while also causing the shutdown of a nuclear reactor in Switzerland.
Azerbaijan, Kazakhstan and Uzbekistan have established a joint venture to implement the Green Energy Corridor: Azerbaijan–Central Asia project aimed at building infrastructure for clean energy transmission and strengthening a regional energy cooperation.
A Clean Energy Centre will be officially launched during the 17th Economic Cooperation Organization (ECO) Summit, to be hosted by Azerbaijan this week, announced Asad M. Khan, Secretary General of the ECO.
Following a deadly glacier collapse in Blatten, near the Swiss Alpine village of Kandersteg, the town is on high alert as melting permafrost and shifting rock threaten another potential disaster after it was buried a month ago.
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