The EU sets a new climate target for 2040: a 90% reduction in emissions

The European Union has taken a decisive step in its climate architecture by reaching a provisional agreement between the Council and the European Parliament that sets a new binding target of a 90% reduction in net greenhouse gas emissions by 2040, compared to 1990 levels. This milestone updates the European Climate Law and strengthens the path towards climate neutrality by 2050.

The negotiation has also incorporated essential elements to facilitate the transition in key economic sectors, such as new margins of flexibility, rules for the limited use of international carbon credits and the one-year postponement of the entry into force of the ETS2 system, which will apply from 2028.

Danish Minister for Climate, Energy and Utilities Lars Aagaard hailed the agreement as a turning point for the continent:

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