- EU countries’ climate ministers approved on Wednesday, November 5, a 2040 climate change target to cut emissions by 90 per cent.
- Ministers approved in a public vote the 90 per cent target, which would let countries buy foreign carbon credits to cover up to 5 per cent of the 90 per cent emissions-cutting goal.
EU countries’ climate ministers approved on Wednesday, November 5, a 2040 climate change target to cut emissions by 90 per cent, but with flexibilities to weaken this aim.
Ministers approved in a public vote the 90 per cent target, which would let countries buy foreign carbon credits to cover up to 5 per cent of the 90 per cent emissions-cutting goal, said Danish climate minister Lars Aagaard, who chaired the talks.
That would effectively weaken to 85 per cent the emissions cuts required from European industries.
The EU also agreed to consider the option, in future, to use international carbon credits to meet a further 5 per cent of the 2040 emissions reductions, Aagaard said – potentially shaving another 5 per cent off their domestic target.