By Ewa Krukowska
The European Union clinched a deal to reduce greenhouse gases by 90% through 2040 compared with 1990 levels, a target that seeks to keep the bloc on track to reach net zero by the middle of the century.
Representatives of the European Commission, the bloc’s parliament and member states in the EU Council reached a tentative agreement on the final shape of the climate law at a meeting in Brussels in the early hours of Wednesday, according to Denmark, which holds the nation group’s rotating presidency.
“Today, Europe has united around our clear direction for climate policy — based in science and protecting our security and competitiveness,” said Danish Climate Minister Lars Aagaard. “The target delivers on the need for climate action while safeguarding our competitiveness and security.”
A key element of the deal is the EU allowing international carbon credits to account for a greater share of emissions reductions. The limit was set at 5 percentage points of emissions reductions, compared with 3 percentage points originally proposed by the commission. That means the effective goal for the 27-nation bloc will be to reduce domestic emissions by 85%.
The EU already has two binding targets: net zero emissions in 2050 and a 55% cut by 2030 from 1990 levels.
