The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
The European Commission plans to include carbon credits from abroad in the European Union’s 2040 climate target, a move aimed at easing the emissions cuts required from EU industries.
A draft summary of the upcoming proposal, seen by Reuters, shows the Commission intends to allow "high-quality international credits" from a U.N.-backed carbon market to cover up to 3 percent of the EU’s emissions cuts.
The credits would be phased in from 2036, with new EU legislation to later define sourcing rules, quality standards, and purchasing processes.
This adjustment would effectively reduce the domestic emission cuts European industries need to make to reach the EU’s planned 90 percent emissions reduction from 1990 levels by 2040.
Projects eligible for credits could include initiatives like forest restoration in countries such as Brazil. Supporters say this will help fund CO2 reduction efforts in developing nations. But recent controversies over the credibility of some carbon credit projects have raised concerns about their actual climate impact.
The Commission’s document also outlines additional flexibilities, such as integrating CO2 removal projects into the EU carbon market, allowing industries to buy removal credits to offset emissions.
Countries would also gain more flexibility in deciding which sectors shoulder the biggest emission cuts, helping them meet targets more cost-effectively.
The shift follows pushback from governments including Italy, Poland, and the Czech Republic, who fear the costs of a strict 90 percent target could hurt industries and strain national budgets already stretched by defence spending and other priorities.
The European Commission declined to comment on the leaked draft, which is due for official release on July 2 and may still change before publication.
Once unveiled, the proposal will go through negotiations with EU countries and the European Parliament, who could revise the final target.
The U.S. has launched fresh strikes on Iran after Tehran targeted a container ship and said it had again closed the Strait of Hormuz. Iran also claime...
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city...
Concerns are growing over a renewed cholera outbreak in Yemen, after years of conflict has left the country's healthcare system struggling to cope....
The European Union's General Court has dismissed Ryanair's appeals against an Italian state aid scheme approved by the European Commission in 2020 to support airlines during the COVID-19 pandemic.
The Netherlands will announce more than €3 billion ($3.43 billion) in new defence projects and agreements at a NATO forum in Ankara this week, Dutch Defence Minister Dilan Yesilgoz has said, as alliance members step up efforts to boost military spending and cooperation.
Governments are tightening restrictions on teenagers’ use of social media amid growing concerns over mental health, online safety and platform design, but questions remain over enforcement and whether bans can meaningfully change behaviour.
Kremlin spokesman Dmitry Peskov said on Friday (3 July) that the European Union should take into account allegations of Ukrainian involvement in the 2022 Nord Stream sabotage when considering Kyiv’s bid for membership.
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
The U.S. has launched fresh strikes on Iran after Tehran targeted a container ship and said it had again closed the Strait of Hormuz. Iran also claimed to have expanded attacks on U.S. military facilities across the Gulf.
Iran's Supreme Leader, Mojtaba Khamenei, has promised to avenge the killing of his father, while U.S. President Donald Trump said Tehran and Washington had agreed to continue talks despite an escalation of hostilities this week.
Typhoon Bavi pummelled Japan's southern Sakishima island chain with heavy rain and violent winds on Saturday as it headed towards Taiwan, prompting authorities to warn of the risks of floods and landslides.
China has maintained its highest-level rainstorm warning after Typhoon Bavi made landfall on the country's eastern coast, urging large-scale evacuations and emergency preparations across several provinces amid fears of severe flooding and landslides
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
Two men were killed and six other people were injured in a shooting at Toronto's Salsa on St. Clair festival on Saturday night, police said.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 12 July, covering the latest developments you need to know.
U.S. Senator Lindsey Graham, one of President Donald Trump’s most prominent allies in Congress, has died following a brief and sudden illness. He was 71-years-old.
Five major carmakers have largely won the first stage of a major legal battle at a High Court case brought by around 1.6 million claimants in the UK over allegations that their diesel vehicles were fitted with unlawful "defeat devices" that led to higher emissions.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment