Latest news with #WopkeHoekstra
Free Malaysia Today
2 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
2 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.
Zawya
2 days ago
- Business
- Zawya
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 Reuters. The 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 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 spokesperson 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 U.S. 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.
Reuters
2 days ago
- Business
- Reuters
EU to propose more flexible climate goal in July, sources say
BRUSSELS, May 30 (Reuters) - 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 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 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 spokesperson 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 U.S. 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.
Zawya
3 days ago
- Business
- Zawya
EU almost on track to reach 2030 climate goal
BRUSSELS - The European Union is nearly on track to reach its main climate target for this decade, with countries' existing CO2-cutting plans set to bring the bloc within one percentage point of the goal, the European Commission said on Wednesday. The EU is on course to reduce its net greenhouse gas emissions by 54% by 2030, compared with 1990 levels - just shy of its legally-binding goal of a 55% cut, the Commission said in an analysis of existing policies in the EU and its member countries. The analysis showed governments have upped their efforts to curb emissions in the last two years, even as Brussels faces a political backlash from some countries demanding the EU weaken its green agenda. Europe is the world's fastest-warming continent, with crop-wrecking floods and deadly wildfires linked to climate change hitting EU nations with increasing frequency. But with industries reeling from high energy prices after Russia slashed gas deliveries in 2022, and the prospect of U.S. tariffs, the EU faces mounting calls from governments to soften green measures for struggling businesses. EU climate commissioner Wopke Hoekstra said the EU would invest more in clean technologies to ensure industries can prosper from Europe's green transition. "Emissions are down 37% since 1990, while the economy has grown nearly 70%, proving climate action and growth go hand in hand. Now we must build on this momentum," Hoekstra said. By 2023, the EU had reduced its emissions by 37% from 1990 levels, the latest available data show. The Commission cited strong progress in the energy sector, with renewable sources covering 24% of EU energy consumption in 2023. Agriculture and transport are among the sectors lagging behind, it said. Farmers staged months of protests across Europe last year, criticising EU green policies. The agriculture sector has largely escaped EU climate measures, and Brussels weakened some environmental rules for farmers in response to the protests. The environmental impact of land use - which includes farming and forestry - has also been exacerbated by record-breaking wildfires, which deplete the land's ability to store carbon. The EU's "sink" of carbon stored in natural ecosystems like grasslands and forests is now not expected to improve by 2030, the Commission said. The EU's 2030 climate goal is one of the most ambitious among major economies worldwide. The Commission is preparing to propose a 2040 climate target, but has delayed the proposal for months amid political pushback. (Reporting by Kate Abnett; Editing by Aurora Ellis)
