Brussels: The European Commission has unveiled its proposal for an amendment to the EU Climate Law, setting an ambitious 2040 target for a 90% reduction in net greenhouse gas emissions compared to 1990 levels. This move aligns with the EU’s strategic guidelines for 2024-2029 and aims to provide certainty to investors while strengthening industrial leadership and energy security across Europe.
According to Cyprus News Agency, the proposal builds on the EU’s existing legally binding goal of reducing net GHG emissions by at least 55% by 2030. It sets a more pragmatic and flexible approach towards achieving a decarbonised European economy by 2050. The proposed 2040 target is aligned with the EU Competitiveness Compass, Clean Industrial Deal, and Affordable Energy Action Plan, considering current economic and geopolitical landscapes.
Commission President Ursula von der Leyen emphasized the importance of this commitment, stating that European citizens expect decisive action against climate change, and industry relies on predictable policies. The proposal is based on extensive consultations and impact assessments, with advice from the Intergovernmental Panel on Climate Change and the European Scientific Advisory Board on Climate Change.
The proposal introduces flexibilities such as limited international credits, domestic permanent removals in the EU Emissions Trading System, and greater sectoral flexibilities, ensuring cost-effective and socially fair achievement of targets. Emphasizing a fair transition, the proposal seeks to support competitive European industry while ensuring a level playing field with international partners.
The European Commission also highlighted the Clean Industrial Deal’s role in meeting the 2040 climate target, unveiling a state aid framework to support clean energy investments and simplifying the Carbon Border Adjustment Mechanism. Additional measures include tax incentives and guidelines to optimize new EU renewable rules.
The proposed 90% target also sends a strong signal to the global community ahead of the UN Climate Change Conference (COP30) in Brazil, reaffirming the EU’s commitment to the Paris Agreement and global emission reduction efforts. The proposal will be submitted to the European Parliament and the Council for adoption, setting a benchmark for post-2030 EU policy frameworks.
The European Climate Law, enacted in July 2021, legally binds the EU to achieve climate neutrality by 2050 and an intermediate GHG reduction target of 55% by 2030. The proposal for the 2040 target follows the first Global Stocktake of the Paris Agreement, completed in December 2023.