EU agrees on 2040 climate target with 90% emissions reduction

On the eve of COP30, a number of EU countries reached a climate compromise on a significant reduction in emissions. UNN reports with reference to Bloomberg.

Details

European Union member states have reached an agreement to cut emissions by 90% by 2040 compared to 1990 levels. However, this agreement has flexible features, taking into account the positions of a number of countries that agreed "reluctantly."

Overall, these negotiations dragged on, and to convince, for example, Italy, one of the most "reluctant" member states, the 27 member states approved much greater flexibility than the European Commission initially sought.

In particular, countries were allowed to increase their share of emission reductions by purchasing international carbon emission quotas. EU member states will be able to purchase up to 10% of their emissions through international carbon credits.

However, it should be noted that despite these concessions, Hungary, Slovakia, and Poland opposed the agreement. The Czech Republic did not support the adoption of the text, confirming its long-standing position, announced Environment Minister Petr Hladík. Bulgaria and Belgium also abstained, while Austria's support came with certain reservations.

Nevertheless, Denmark, which holds the EU presidency, was optimistic about the agreement.

This goal is consistent with science. It also exists to provide guidance to the industry. Now we have a framework for shaping the future of our continent, a continent that takes climate responsibility seriously.

Official negotiations on current climate issues will begin at the annual UN COP30 summit in Belém, Brazil, on November 10. Dozens of world leaders are expected.

Recall

The UN Climate Change organization expects the first reduction in global greenhouse gas emissions, but the pace is insufficient to meet climate limits. To avoid the worst consequences of climate change, 2019 emissions must be reduced by 60% by 2035.

The Cabinet of Ministers of Ukraine adopted a resolution on the procedure for transmitting the results of emissions monitoring in real time.