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6d ago

EU Strikes Provisional Deal for Binding 90% Emissions Cut by 2040

The compromise introduces flexibilities to ease the transition, including restricted carbon credits plus a postponed ETS2 start.

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European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo
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Overview

  • Negotiators from the European Parliament and Council agreed to amend the EU Climate Law with a legally binding net 90% greenhouse gas reduction target for 2040 versus 1990 levels.
  • From 2036, up to five percentage points of the 2040 reduction can be met with high‑quality international carbon credits aligned with the Paris Agreement and subject to safeguards.
  • The deal permits domestic permanent carbon removals to compensate hard‑to‑abate emissions within the EU ETS and adds flexibility across sectors and instruments to cut costs.
  • The start of ETS2, the carbon market for building and road‑transport fuels, is delayed by one year to 2028.
  • The agreement remains provisional and requires formal approval by Parliament and Council, with the European Commission to review progress every two years and propose adjustments if needed.