- European Union leaders agreed on Thursday, October 23, for the bloc to move ahead with setting a 2040 emissions target.
- The 2040 target aims to keep the EU on track between its existing legally binding commitment to cut emissions 55 per cent by 2030, and the 2050 target.
European Union leaders agreed on Thursday, October 23, for the bloc to move ahead with setting a 2040 emissions target, which it is racing to do ahead of next month’s global U.N. climate talks, despite growing pushback on green measures from some member states.
The EU is trying to pass a new target to cut net greenhouse gas emissions 90 per cent by 2040 to put the bloc on track for net-zero emissions by 2050 – seen by scientists as an essential step to avert the worst impacts of global warming.
The 2040 target aims to keep the EU on track between its existing legally binding commitment to cut emissions 55 per cent by 2030, and the 2050 target.
EU governments’ leaders agreed on Thursday to proceed with the 2040 target, but leave details for ministers to approve at a November 4 meeting. That is a challenging task, since leaders did not resolve key sticking points, including what share of the 90 per cent emissions-cutting goal countries can meet by buying foreign carbon credits.
“None of us is questioning the goal of climate protection. All of us are of the opinion that we must combine this with the competitiveness of European industry,” German Chancellor Friedrich Merz said.
The leaders did agree to impose some conditions on the target, reflecting some capitals’ concerns over how to finance the low-carbon transition alongside priorities like defence against Russian aggression and revitalising businesses. In their joint summit statement, EU leaders said the 2040 target should include a “revision clause” to potentially weaken it in future.
Countries, including Poland, have argued this is needed in case green technologies do not develop as planned, or economic conditions hamper the investments needed to achieve the climate target.
Wealthier western and northern countries – whose uptake of electric vehicles and renewable energy has surpassed that of poorer EU states – are more confident. But they, too, want more flexible targets, reflecting concerns, including that their forests are struggling to absorb CO2 emissions because of problems, including wildfires.
Leaders also demanded that if forests underperform in absorbing CO2 emissions, other industries will not be forced to cut emissions faster to deliver the 2040 goal.
Last month, the EU missed a U.N. deadline to pass its climate target, and it is racing to approve the goal before world leaders gather at the COP30 climate summit on November 6-7.
Despite worsening extreme weather worldwide, ambitious efforts to fight climate change are flagging. In the U.S., President Donald Trump has dismantled emissions-cutting measures.
EU government heads focused their talks on the so-called “enabling conditions” – financing and supportive policies – needed to reduce greenhouse gas emissions, while avoiding higher energy bills for citizens and supporting businesses grappling with cheap Chinese imports and U.S. tariffs.