CO2 QUOTE Closing from 15-04-2026 72.94 €/T

EU fails to reach agreement on emissions cuts by 2040

The ambassadors of the 27 did not reach an agreement on the new target for cutting carbon dioxide emissions by 2040, but the Danish presidency of the EU, which is piloting the negotiations this semester, is confident that the green light will be achieved before the end of the year. Last July, the EU executive presented a proposal for the EU to reduce its emissions by 90% compared to 1990 levels, although with a series of flexibilities, criticised by environmental organisations. This target is an intermediate step before the EU becomes the first territory in the world with 0 emissions by 2050, as the European Commission intends. According to the Danish presidency’s spokespeople, “the discussions on the climate law were very constructive and the Member States recognised the progress made”.

Despite this, several capitals asked to involve the heads of state and government of the Twenty-seven in the debate, which opens the door for this issue to be included in the agenda of the meeting of European leaders to be held on 23 and 24 October.

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