Today, representatives of the European Commission, the European Parliament, and the Council of the EU reached a preliminary agreement on a common climate goal for the bloc. The final version of the climate law will enshrine the EU's commitment to reduce emissions by 90% by 2040 compared to 1990 levels.
This was reported by Bloomberg.
"Today, Europe has united around a clear climate policy direction that is based on science and protects our security and competitiveness. This target meets the need for climate action while protecting our competitiveness and security," said Danish Climate Minister Lars Aagaard.
Credit easing
There is no longer unity in Europe on the goals of protecting the planet from global warming. The priorities of a number of countries have shifted to supporting their own economies and addressing the problem of high energy costs.
A telling example is the permission to purchase international carbon credits. Initially, the European Commission proposed to compensate for up to 3% of emissions reductions through this instrument, but the final limit was set at 5%. This means that Europe will actually have to reduce its emissions by 85% instead of 90%.
The next step is the approval of commitments at the level of EU member states and the European Parliament.
Earlier, the environmental ministers of the EU member states agreed on a similar commitment. Ahead of the COP30 climate conference, the setting of a rather ambitious target provoked lengthy discussions and resistance from a number of countries.
EcoPolitic also reported that the EU had adopted a regulation aimed at developing the European carbon credit market.
