The European Parliament today adopted an agreement with EU states amending the bloc's climate law, establishing a 90pc greenhouse gas emissions reduction target for 2040, compared with 1990 levels. It comprises a domestic target of 85pc and up to 5pc of international carbon credits from 2036.
Key changes in the new climate law include postponing by one year to 2028 the expansion of the bloc's emissions trading system (ETS2) to cover fuel combustion emissions in buildings and road transport. It now foresees progress reports every two years, with the European Commission able to propose amendments including modifying the 2040 target.
Green environment committee member Lena Schilling said that EU standards are threatened by deregulation but that "90pc reduction in emissions by 2040 is a hard-won milestone on the road to climate neutrality". Views on the agreed target remain divided. For centre-right Polish ECR member Anna Zalewska, it "risks accelerating de-industrialisation, increasing energy prices and weakening Europe's economic and strategic resilience".
