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🗞️ Driving the news: The European Commission is drafting a proposal that could allow the EU to meet its 2040 climate goals by using carbon credits from climate projects in poorer countries
• The draft amendment would permit EU nations to count some international emissions reductions towards their domestic targets, though a limit of 3% of the overall goal has been suggested, in line with German recommendations
🔭 The context: Currently, EU climate law mandates that all emissions reductions be achieved through domestic efforts
• This shift toward allowing international carbon credits reflects ongoing negotiations, with member states such as France and Germany influencing the discussions
• France has expressed a desire to increase the cap, seeing international credits as a means to balance out declining domestic carbon absorption
🌍 Why it matters for the planet: While the EU’s push for carbon credits could ease the burden on industries facing stricter emissions targets, critics argue it could undermine progress toward meaningful emissions reductions within Europe
• Reliance on international projects might delay crucial decarbonization measures in the EU, raising concerns about the integrity of its climate ambitions
⏭️ What's next: The European Commission will publish its final proposal on July 2, and negotiations will continue as member states, particularly France, push for a higher cap on carbon credits
• If adopted, this policy could have long-term implications for EU climate strategies, including the potential for scaling up international climate projects and reshaping the bloc's emission reduction tactics
💬 One quote: “We see [carbon credits] particularly as a way of responding to the uncertainty about our natural carbon sinks.” — Agnès Pannier-Runacher, French Ecological Transition Minister.
📈 One stat: The proposed 2040 emissions reduction target for the EU is 90% below 1990 levels, with up to 3% of this achieved through international carbon credits
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