EU Leaders Clash Over Ambitious 2040 Climate Targets

EU leaders are set to discuss the alignment of climate goals with corporate competitiveness as they gear up to agree on a new 2040 emissions target. This meeting comes amid waning political will for ambitious climate action, compounded by global extreme weather events and policy backtracking by the U.S. under President Trump.

The proposed target to reduce net greenhouse gas emissions by 90% by 2040 has met resistance over financial concerns related to transitioning to a low-carbon economy, alongside other priorities such as defense and business revival. In preparation for this debate, European Commission President Ursula von der Leyen emphasized Europe's opportunity to rejuvenate industries and diminish dependency on Chinese imports through a clean economy transition.

Internal disagreements reflect the diverse climate ambitions among EU countries. Notably, Brussels has adjusted sustainability policies amid oppositions from both European nations and international trade partners. The commission's leniency towards conditions like exempting small farmers from deforestation laws and adjusting carbon pricing for transport illustrates attempts to placate dissent. The possibility of inserting a 'revision clause' for future target adjustments further underscores the challenges in achieving member consensus.