It’s been six years since the EU first agreed to slash greenhouse gas emissions by at least 55 per cent by 2030 compared to pre-industrial levels. Now, time is ticking.
The bloc-wide target, which became legally binding in 2021, is part of the EU’s longer-term plan to achieve carbon neutrality by 2050. Back in March, the European Council also adopted an interim target that requires all 27 member states to reduce their net greenhouse gas emissions by 90 per cent by 2040, compared to 1990.
However, from 2036 onwards, “high-quality international credits” may be used up to a limit of five per cent of 1990 EU net emissions to contribute towards the 2040 target. This will allow member states to buy credits generated by emissions-cutting projects in other countries and count those cuts as part of their own targets.
Critics argue the loophole risks delaying “real, ambitious cuts in the EU”. Sarah Heck of Climate Action Tracker tells Euronews Earth: “It’s a risky step backwards that undermines the principle that climate targets should drive real, domestic emission reductions.”
But are the EU’s biggest economies likely to fall at the first hurdle?
