The European Commission on 2 July proposed amending the EU Climate Law to require a legally binding 90% cut in net greenhouse-gas emissions by 2040 compared with 1990 levels, positioning the bloc to reach climate neutrality in 2050. For the first time, the draft allows member states to meet up to three percentage points of the 2040 target with international carbon credits purchased from projects in developing countries, a facility that would start in 2036. All previous EU targets relied solely on domestic reductions. Brussels said the ‘flexibilities’ respond to concerns about energy costs and industrial competitiveness voiced by countries such as Germany, France and Poland. Climate NGOs and the EU’s own scientific advisory board warned that outsourcing part of the effort could undermine investment in local decarbonisation and expose the bloc to low-quality offsets. The legislation must be negotiated by the European Parliament and the Council, a process the Commission hopes to complete before a mid-September UN deadline for updated 2035 commitments. The new goal builds on the existing pledge to cut emissions 55% by 2030.
EU and China intend to sign climate statement at Beijing summit https://t.co/XWvA5GROXz via @johnainger @europressos https://t.co/gZpmTtPowS
The EU and China are preparing a landmark joint statement on climate cooperation, a move that could help galvanize momentum ahead of the COP30 summit later this year https://t.co/Byioo0qZ7O
EU AND CHINA INTEND TO SIGN CLIMATE STATEMENT AT BEIJING SUMMIT