The European Commission has proposed an amendment to the EU Climate Law aimed at reducing net greenhouse gas emissions 90% by 2040, compared with 1990 levels.
"The EU is currently on track to meet its next target of 55% reduction by 2030. The new proposal builds on this legally binding goal and sets out a more pragmatic and flexible way to reach the 2040 target. The proposed 2040 climate target takes into account the current economic, security and geopolitical landscape," - the Commission said in its statement.
A large majority of Europeans continue to view climate change as a serious global threat, with 85% of citizens identifying it as a major problem. 81% support the EU's goal of reaching climate neutrality by 2050, according to a recent survey.
Under the plan, member states would be granted more flexibility to achieve the climate targets. Currently, they have only been able to count domestic greenhouse gas reductions, but from 2036, the proposal allows carbon credits from non-EU countries to count for up to 3% of the overall 90% reduction compared to 1990 levels.
"With our 2040 target, we are staying the course on a clean transition. We have a clear plan to make it work: a strong enabling environment, the Clean Industrial Deal, and three impactful flexibilities. This framework provides industry and member states with clear direction and supports their investment strategies, while keeping Europe firmly on track to achieve climate neutrality by 2050," - stated European Commissioner for Climate Action, Net-Zero, and Clean Growth, Wopke Hoekstra.
He added that it will serve as an instrument in the EU’s international climate diplomacy, supporting emissions reductions and the development of carbon markets under the Paris Agreement.
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Brazil’s Chamber of Deputies has approved an historic free trade agreement between Mercosur and the European Union, moving the long-delayed pact closer to implementation.
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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.
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