· 3 min read
illuminem summarises for you the essential news of the day. Read the full piece on Euractiv or enjoy below:
🗞️ Driving the news: The European Commission is preparing to propose a target for reducing greenhouse gas emissions by 90% by 2040, compared to 1990 levels
• This ambitious goal is intended to support the EU's pathway to net-zero by mid-century
• However, the proposal will offer significant flexibility to EU member states, allowing them to count "high-quality international credits" towards the target starting in 2036
• Additionally, the EU's carbon cap-and-trade system will integrate "domestic permanent removals," potentially allowing for negative emissions to count toward emissions reductions
🔭 The context: The EU is legally committed to achieving net-zero emissions by 2050, with a milestone target to cut emissions by 55% by 2030
• However, the path to achieving these targets has sparked concerns among certain member states, such as France, Poland, and Italy, which fear the economic impact of stricter climate measures
• This has led to debates within the EU about how to balance climate goals with economic realities, with the flexibility of carbon credit purchases and negative emissions being seen as potential compromises
🌍 Why it matters for the planet: The EU's 90% emissions reduction target by 2040 is crucial in meeting global climate goals, but the proposed flexibilities could undermine the ambition of the target
• Critics argue that allowing countries to "buy their way out" of emissions reductions might dilute the effectiveness of climate action, particularly if the carbon credit system is not robust
• Achieving deep cuts in emissions is essential to mitigating climate change, but the approach taken by the EU will need to be both effective and equitable to avoid creating loopholes that weaken long-term efforts
⏭️ What's next: The European Commission's proposal is expected to be finalized soon, and it will be subject to negotiation with EU member states and the European Parliament
• The balance between achieving deep emissions cuts and addressing the concerns of hesitant member states will be key in shaping the final agreement
• If passed, this policy could set a significant precedent for other regions in pursuing similar climate goals
💬 One quote: "These so-called flexibilities are nothing but a backdoor to less climate action." – Lena Schilling, Green MEP, European Parliament
📈 One stat: The EU aims to cut emissions by 90% by 2040, a target that aligns with the recommendations of the EU's climate advisory board
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