EU unveils long-delayed 2040 climate target, with wiggle room
The 2040 target — which needs sign off from the European Union's member states and parliament — is a key milestone towards the bloc's goal of becoming carbon neutral by 2050. Brussels says the EU has already cut climate-warming emissions by 37 per cent relative to 1990 but its green agenda faces pushback with a rightward shift and rising climate scepticism in many European countries.
EU climate chief Wopke Hoekstra acknowledged the "sensitive" debate, saying Brussels was keeping an "ambitious" goal while being "pragmatic and flexible on how to achieve it". To sway resistant capitals, the European Commission proposes that from 2036, the bloc's 27 countries can count carbon credits purchased to finance projects outside Europe, for up to three per cent of their emission cuts.
Climate campaigners are broadly opposed to the measure.
Backed by scientific studies and the commission's own science advisers, they say factoring in international credits -- for things like tree-planting or renewable-energy projects -- risks undermining the EU's own efforts to shift away from fossil fuels. "While this is a step in the right direction, by sneaking in international offsets and leaning heavily on supposed future carbon removals, the European Commission has built loopholes into the heart of the proposal," WWF EU said.
"Three per cent is not insignificant," echoed Neil Makaroff, an expert at the climate-focused Strategic Perspectives think tank. "These are potentially considerable sums that will be spent abroad instead of financing the transition" in Europe. "But there's a political compromise to be found," said Makaroff — stressing the importance of "delivering" on the headline target.
To reach the 2040 and 2050 objectives, Europe's industry and citizens will have to undertake major transformations including increased uptake of electric cars, the gradual phasing out of fossil fuels and making buildings more energy-efficient. "Today we show that we stand firmly by our commitment to decarbonise Europe's economy by 2050," EU chief Ursula von der Leyen said.
EU environment ministers will discuss the objective at a meeting in mid-July, ahead of a vote expected on September 18. EU lawmakers also need to greenlight the target, which requires the support from the biggest group in parliament, the centre-right EPP. To win others over, Brussels also proposes to make it more financially attractive for companies that capture and store CO2. The commission's hope is that the 2040 objective will be approved before the UN climate conference (COP30) in November in the northern Brazilian city of Belem. — AFP
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