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.
Germany and France are aiming to end a long-standing rift over their joint fighter jet project by August, as Chancellor Friedrich Merz and President E...
Senior diplomats from Iran, Russia and China convened in Tehran to coordinate their positions on Iran’s nuclear programme and Western sanctions ahea...
Australia has made a further payment to the United States under the AUKUS nuclear submarine deal. Prime Minister Anthony Albanese confirmed on Wednesd...
Russia and Ukraine held a brief 40-minute meeting in Istanbul on Wednesday, discussing further prisoner exchanges but failing to make progress on a ce...
Ten firefighters have died and 14 others were injured battling a wildfire in Türkiye’s Eskisehir province....
Türkiye and Britain have signed a memorandum of understanding on Wednesday to allow Ankara to become a user of Eurofighter Typhoon fighter jets, marking a step toward finalising a long-discussed deal for the aircraft, while Germany approved the delivery of 40 jets.
The European Union on Wednesday called for a "new era of freedom" in partnership with Japan, with European Commission President Ursula von der Leyen pledging to deepen ties with Tokyo.
President Recep Tayyip Erdoğan has urged the European Union to resume Türkiye’s accession talks without further delay, warning that this could be Brussels’ final opportunity to restore trust and strengthen ties with Ankara.
The European Commission has announced a new fee for non-EU travellers who do not require a visa to enter 30 European countries. Under the European Travel Information and Authorisation System (ETIAS), the fee will increase from €7 to €20.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
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.
The United Nations' top court has declared that failing to curb emissions violates international law, marking a historic moment for global climate justice and setting the stage for future legal action against polluting states.
Media accreditation is now open for COP30, the United Nations Climate Change Conference, set to take place in Belém, Brazil in 2025.
China is battling an unprecedented power surge, as temperatures push electricity demand beyond 1.5 billion kilowatts. Officials warn the real test is still to come, with risks of power rationing looming.
Monsoon rains in northern India has pushed the death toll past 100, claiming the lives of 104 people in in Himachal Pradesh, injuring 189, and left 35 missing, according to officials.
The Brazilian government has responded to growing concerns over accommodation for participants of the upcoming UN Climate Change Conference, COP30, set to take place this November in the heart of the Amazon rainforest, in the city of Belém.
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