"European Union climate ministers have struck a watered-down deal on emission-reduction goals as they have scrambled to win over member states before the United Nations COP30 summit in the Amazon. Ministers approved a compromise early on Wednesday after marathon talks on how the bloc will go about slashing its greenhouse gas emissions by 90 percent by 2040, introducing flexibilities that will essentially offload some of the task onto foreign countries."
"Under the compromise, countries will be allowed to buy foreign carbon credits to cover up to 5 percent of their overall target of cutting emissions by 90 percent compared with 1990 levels. In a further concession, the bloc also agreed to consider the option of using international carbon credits to meet a further 5 percent of its goal. Setting a climate target is not just picking a number."
EU climate ministers approved a watered-down plan to achieve a 90 percent reduction in greenhouse gas emissions by 2040 while adding several flexibilities. The compromise allows countries to purchase foreign carbon credits to cover up to 5 percent of their target, and the bloc may consider using international credits for an additional 5 percent. The overall 2040 objective will be reassessed every two years. The launch of an EU carbon market has been delayed from 2027 to 2028. Poland, Slovakia and Hungary opposed the target on competitiveness grounds, but the deal passed with the needed support from at least 15 member states. The UN requested 2035 climate plans ahead of COP30.
Read at www.aljazeera.com
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