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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Yanis Varoufakis delivered a blunt assessment: the European Union has missed every major chance to reform, poisoned its own democratic debate and is now entering a prolonged period of structural decline.
Hungary has vowed legal action against the European Union over a planned ban on Russian gas imports by 2027, after Brussels said national objections would not override EU law.
Iran's leadership warned of a regional conflict on Sunday (1 February) if the U.S. were to attack it, stoking the tension between Washington and Tehran, and it designated EU armies as "terrorist groups" in a retaliatory move.
Dmitry Medvedev, said European countries have failed to defeat Russia in Ukraine and have instead inflicted serious economic damage on themselves, as he criticised EU policy, praised Donald Trump as a leader who seeks peace, and said Russia would “soon” achieve military victory in the war.
Storm Leonardo hit Spain and Portugal on Tuesday, forcing more than 11,000 people from their homes, as a man in Portugal died after his car was swept away by floodwaters and a second body was found in Malaga.
Winter weather has brought air travel in the German capital to a complete halt, stranding thousands of passengers as severe icing conditions make runways and aircraft unsafe for operation and force authorities to shut down one of Europe’s key transport hubs.
An attacker opened fire at the gates of a Shiite Muslim mosque in Islamabad on Friday before detonating a suicide bomb that killed at least 31 people in the deadliest assault of its kind in the capital in more than a decade.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 6th of February, covering the latest developments you need to know.
Greek authorities said they have arrested a member of the armed forces on suspicion of leaking highly sensitive military information to foreign handlers allegedly linked to China.
Rivers and reservoirs across Spain and Portugal were on the verge of overflowing on Wednesday as a new weather front pounded the Iberian peninsula, compounding damage from last week's Storm Kristin.
Morocco has evacuated more than 100,000 people from four provinces after heavy rainfall triggered flash floods across several northern regions, the Interior Ministry said on Wednesday.
Greenland registered its warmest January on record, sharpening concerns over how fast-rising Arctic temperatures are reshaping core parts of the island’s economy.
Storm Kristin has left central Portugal with severe destruction, major power outages and a reconstruction bill that officials say could reach billions of euros.
Storm Kristin has killed at least five people and left more than 850,000 residents of central and northern Portugal without electricity on Wednesday (28 January), as it toppled trees, damaged homes, and disrupted road and rail traffic before moving inland to Spain.
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