EU Climate Proposal To Include Flexibilities For Industry & Nations

The European Commission plans to present a 2040 climate target on July 2, aiming to cut net greenhouse gas emissions by 90% from 1990 levels, EU diplomats told Reuters.

The proposal includes flexibilities, such as allowing lower domestic industry targets and the use of international carbon credits to meet the overall goal. The Commission has delayed this target amid criticism over costs to businesses facing high energy prices and global competition. Countries remain divided, with Finland, the Netherlands, and Denmark supporting the target, while Italy and the Czech Republic oppose it. Germany backs the target if carbon credits can cover a portion. The plan may also ease sector-specific cuts, giving member states more choice in how to distribute emission reductions.

The proposal is part of the EU’s broader strategy to bridge the gap between its 2030 emissions target and the goal of reaching net zero by 2050.