In November, the European Union will set new targets for reducing emissions for 2035 and 2040 ahead of the COP30 climate summit.
This was announced by European Commission President Ursula von der Leyen, according to Reuters.
Von der Leyen said that Europe will stick to its climate goals as Brussels cuts red tape. This will help businesses with the green transition. It will also help attract investment in power grids so that consumers can enjoy the benefits of cheaper renewable energy.
Not everyone is confident that the EU will agree on its targets in time. Countries such as France, Germany, and Poland have called on governments to discuss climate targets at a summit in late October. This would leave member states with only a few weeks to finalize and approve targets before COP30.
Von der Leyen announced the new emissions targets after the bloc missed a United Nations deadline to approve greenhouse gas emissions targets this month.
Other major economies, including China, met the UN deadline.
“The COP30 climate talks in Belém, Brazil, will test the appetite of major economies to continue their efforts,” Reuters writes.
It should be noted that EU environment ministers plan to set a new target of reducing greenhouse gas emissions by 90% by 2040.
The changes concern a 90% reduction in greenhouse gas emissions for European Union countries and signatory countries by 2040 compared to 1990 levels. At the meeting, the European Commission also outlined the key elements and conditions that it should reflect in its legislative proposals on greenhouse gas emissions after 2030 so that the Paris Agreement member states can achieve their climate goals by 2040.
