EU Pushes for 90 Percent Emissions Cut by 2040

(MENAFN) On Wednesday, the European Commission unveiled a bold new proposal to slash the EU's net greenhouse gas emissions by 90% by 2040, relative to 1990 levels. This move is part of an amendment to the EU Climate Law and is seen as a major step toward the bloc's overarching goal of achieving climate neutrality by 2050.

The proposed legally binding target is designed to provide greater predictability for investors, stimulate clean energy innovation, and bolster Europe’s energy security as the continent faces increasing pressure to combat climate change.

“Today we show that we stand firmly by our commitment to decarbonise the European economy by 2050. The goal is clear, the journey is pragmatic and realistic,” stated European Commission President Ursula von der Leyen, underlining the EU's determination to lead on climate action.

The ambitious 2040 target builds upon the EU’s existing 2030 objective to cut emissions by at least 55%. It also introduces several key adjustments, such as the limited use of international carbon credits after 2036, the integration of carbon removal technologies into the EU Emissions Trading System, and greater flexibility across various sectors.

To support the new target, the Commission introduced a suite of measures under the Clean Industrial Deal, including a revamped state aid framework, tax incentives, and simplified rules under the Carbon Border Adjustment Mechanism (CBAM). These changes are designed to foster clean energy investment while minimizing the risk of carbon leakage.

At a press conference where the proposal was presented, European Commission Executive Vice-President Teresa Ribera and Climate Commissioner Wopke Hoekstra emphasized the importance of aligning climate responsibility with economic resilience.

Ribera pointed out that 85% of EU citizens view climate change as one of the greatest threats to the region, calling for "full responsibility" in tackling what she described as “the most essential challenge of this generation.”

Hoekstra, for his part, framed the 2040 target as “the next step” in enhancing the EU’s competitiveness, security, and climate ambitions. “We're doing it for competitiveness, for climate and for our independence,” he said, adding that effective decarbonization will serve as a "powerful growth engine" and reduce Europe’s dependence on fossil fuel imports.

The proposal now moves to the European Parliament and European Council for further discussion and adoption under the ordinary legislative procedure. Should it pass, it will shape the EU's climate and energy strategy post-2030 and form a critical part of its contribution at the COP30 summit in Brazil later this year.

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