Latest news with #EU2040
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
EU to propose more flexible climate goal in July
After months of delay, the 2040 EU climate target will be decided on July 2. (EPA Images pic) BRUSSELS : The European Commission will propose a new EU climate target in July that includes flexibilities for how countries meet it, as Brussels attempts to fend off mounting criticism of Europe's environmental aims, EU diplomats told Reuters. The EU's climate commissioner, Wopke Hoekstra, confirmed plans to present an EU climate target for 2040 on July 2, during a meeting with EU countries' representatives on Wednesday, diplomats familiar with the closed-door talks told Reuters. The proposal will set an EU goal to cut net greenhouse gas emissions 90% by 2040, compared with 1990 levels, the diplomats said. However, the EU executive plans to add flexibilities to that target, which could reduce what it demands from domestic industries. The flexibilities include setting an emissions-cutting target for domestic industries that is lower than 90% and letting countries buy international carbon credits to make up the rest, to reach 90%, the diplomats said. A European Commission spokesman declined to comment on the plans. The commission has promised not to weaken Europe's ambitious climate aims, despite mounting criticism from governments and lawmakers concerned about the cost for European businesses, which are struggling with high energy prices and looming US tariffs. Europe is the world's fastest-warming continent. The commission has delayed its 2040 climate proposal for months, and has weakened other green laws in recent months to try to calm the political pushback. EU countries are split over the 2040 goal, which they and EU lawmakers must approve. Finland, the Netherlands and Denmark are among those backing a 90% emissions cut. Opponents include Italy and the Czech Republic. Germany has backed a 90% target if countries can use international carbon credits to meet three percentage points of the goal. The commission is also considering softening requirements for countries to cut emissions in specific sectors – giving them more choice over which industries do the heavy lifting to meet the goal, the diplomats said. The 2040 goal will aim to keep EU countries on track between their 2030 emissions target – which they are nearly on track to meet – and the EU's aim to reach net zero emissions by 2050.
Arab News
3 days ago
- Business
- Arab News
EU to propose more flexible climate goal in July, sources say
BRUSSELS: The European Commission will propose a new EU climate target in July that includes flexibilities for how countries meet it, as Brussels attempts to fend off mounting criticism of Europe's environmental aims, EU diplomats told European Union's climate commissioner, Wopke Hoekstra, confirmed plans to present an EU climate target for 2040 on July 2, during a meeting with EU countries' representatives on Wednesday, diplomats familiar with the closed-door talks told proposal will set an EU goal to cut net greenhouse gas emissions 90 percent by 2040, compared with 1990 levels, the diplomats said. However, the EU executive plans to add flexibilities to that target, which could reduce what it demands from domestic flexibilities include setting an emissions-cutting target for domestic industries that is lower than 90 percent and letting countries buy international carbon credits to make up the rest, to reach 90 percent, the diplomats said.A European Commission spokesperson declined to comment on the Commission has promised not to weaken Europe's ambitious climate aims, despite mounting criticism from governments and lawmakers concerned about the cost for European businesses, which are struggling with high energy prices and looming US is the world's fastest-warming continent. The Commission has delayed its 2040 climate proposal for months, and has weakened other green laws in recent months to try to calm the political countries are split over the 2040 goal, which they and EU lawmakers must approve. Finland, the Netherlands and Denmark are among those backing a 90 percent emissions cut. Opponents include Italy and the Czech has backed a 90 percent target if countries can use international carbon credits to meet three percentage points of the Commission is also considering softening requirements for countries to cut emissions in specific sectors — giving them more choice over which industries do the heavy lifting to meet the goal, the diplomats 2040 goal will aim to keep EU countries on track between their 2030 emissions target — which they are nearly on track to meet — and the EU's aim to reach net zero emissions by 2050.
