European Union (EU) leaders on Thursday agreed on a new climate target to cut greenhouse gas emissions by 90 percent from 1990 levels by 2040, despite growing opposition from some member states to climate action. TASR took over the report from the Reuters agency.
The EU has already committed to reducing greenhouse gas emissions by 55 percent by 2030. The goal of the new measure is to ensure that the block achieves zero emissions by 2050, which scientists consider it necessary to avert the worst consequences of global warming, Reuters explains.
Although EU leaders have agreed on a new target, the details will be approved by ministers at a meeting on 4 November. According to Reuters, that will be an uphill task as member state representatives failed to resolve key points of contention on Thursday, including what share of the goal of reducing emissions by 90 percent can countries meet by purchasing foreign emission credits.
“None of us disputes the goal of climate protection. We all agree that we have to combine it with the competitiveness of European industry,” said German Chancellor Friedrich Merz.
The leaders agreed on several conditions for the new target, which reflect the concerns of several states about how finance this transition alongside other EU priorities, such as defense against Russian aggression or business support.
In their joint statement from the Brussels summit, EU leaders said the 2040 target should include a “revision clause” so it can be adjusted in the future. Countries including Poland have argued that this is necessary if green technologies do not develop as planned or if economic conditions prevent the investment needed to meet the new climate target.
Other leaders praised the regulation’s flexibility because of concerns that forests will not sufficiently absorb carbon dioxide emissions. In that case, they demanded, other industries would not be forced to cut emissions faster to meet the 2040 target.
In their negotiations, representatives of EU member states focused on financial and support policies that are necessary to reduce greenhouse gas emissions and which would also prevent citizens from facing higher energy bills and support businesses struggling with cheap Chinese imports and US tariffs.
European Commission President Ursula von der Leyen told leaders before the summit that the transition to a clean economy is a chance for Europe to revive industry and reduce dependence on imports from Chinawhich dominates the production of technologies such as batteries and solar panels.
“This is a major business opportunity for Europe. Seizing it requires persistence and a relentless effort to counter our competitors, starting with China.” said von der Leyen in a letter dated October 20, to which Reuters had access.
