The European Union approves a reduced climate target ahead of COP30 Environment and climate

EU climate ministers reached agreement in the early hours of Wednesday on their target to cut emissions by 2040, after that target was significantly watered down in last-minute negotiations.

This agreement came a day before the opening of the United Nations climate conference “COP 30” tomorrow, Thursday, in Brazil, where European Commission President Ursula von der Leyen will attend, at a summit that experts believe will test the extent of the major economies’ readiness to continue combating climate change.

Danish Climate Minister Lars Agard, who chaired the talks, said the EU countries had agreed to reduce greenhouse gas emissions by at least 90% by 2040 compared to 1990 levels, including 5% that could be achieved through international compensation measures.

The agreement also allows member states to purchase foreign carbon credits to cover up to 5% of the 90% emissions reduction target, which practically means that the required reduction from European industries will fall to 85%, while the remaining percentage is compensated by paying foreign countries to reduce emissions on behalf of Europe.

The Union also decided to consider the option of using international carbon credits to cover an additional 5% of emissions reductions for 2040 in the future, which could practically reduce the domestic target to 80%.

The agreement also provided for easing other sensitive climate policies, including delaying the launch of a new European carbon market by one year, to 2028.

In addition, countries agreed to set a target for 2035, falling between 66.25% and 72.5% to reduce emissions, in response to the United Nations’ request to submit climate plans for 2035 before the launch of the “COP30” summit.

A group of countries, including Poland, Slovakia and Hungary, have opposed the 2040 target, arguing that it would hurt the competitiveness of their industries, especially with higher energy costs and cheaper Chinese imports.

Lars Agard said, “Setting a climate goal is not just choosing a number, but rather a political decision with far-reaching consequences. We have worked to provide comfort to countries that the goal can be achieved in a way that maintains competitiveness, social balance, and security.”

The European Union ranks third in terms of countries and blocs emitting the most emissions behind China, the United States and India, but it was the most committed among the major polluters to climate action, and it reduced emissions by 37% compared to 1990.

With the rise of right-wing parties, the interest of European countries has become focused on defense and competitiveness at the expense of climate issues, in light of fears of possible negative effects that the transition towards an environmentally friendly economy may have on growth in Europe.