EU roughly on track to hit 2030 emissions goal, Brussels says

illuminem summarises for you the essential news of the day. Read the full piece on POLITICO or enjoy below:

🗞️ Driving the news: The European Commission announced that the EU is nearly on track to meet its 2030 climate goal of reducing greenhouse gas emissions by 55% from 1990 levels, with current projections estimating a 54% cut
• This marks notable progress from earlier assessments but hinges on member states fulfilling updated pledges amid increasing political resistance and competing budgetary pressures

🔭 The context: The EU’s climate trajectory has been shaped by the 2020 European Green Deal and subsequent national climate and energy plans, which each country updates periodically
• The Commission’s latest assessment is based on these revised plans. However, Belgium, Estonia, and Poland have yet to submit theirs
• Past analyses suggested the EU might fall short of its 2030 target, making this report a significant recalibration

🌍 Why it matters for the planet: This progress signals alignment with the Paris Agreement and showcases the EU’s leadership in global climate governance
• Yet, the shortfall in carbon sink capacity and lagging energy efficiency pose risks to long-term sustainability
• Without strengthened action, particularly in nature restoration and fossil fuel subsidy reform, key structural vulnerabilities remain

⏭️ What's next: The Commission will introduce new measures, including an electrification strategy slated for mid-2027, to address shortfalls in efficiency and resilience
• A 2040 roadmap targeting a 90% emissions cut is in the pipeline, potentially with more flexible national contributions
• With €570 billion in annual investment required until 2030, reallocation of fossil fuel import costs is under discussion as a funding avenue

💬 One quote: "Every climate disaster we are unprepared for hits harder. It imposes more cost to our economy and it creates more social harm." – Teresa Ribera, EU competition and climate chief

📈 One stat: The EU spent €430 billion on fossil fuel imports in 2023 — funds the Commission suggests could be redirected to support the green transition

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