EU's Climate Target Dilemma: A High-Stakes Balancing Act

European Union countries are locked in a contentious debate over new climate change targets just days before ministers are set to approve the proposal, according to diplomats and documents obtained by Reuters on Friday.

The European Commission aims to slash carbon emissions by 90% by 2040. However, some member states are concerned about the financial burden on domestic industries. A lack of consensus could leave Commission President Ursula von der Leyen empty-handed at the U.N.'s COP30 summit, threatening the EU's position as a climate leader.

Unresolved issues, such as the usage of foreign carbon credits, have left EU diplomats on edge. Countries like Italy and Poland have balked at the ambitious targets, while others urge stricter emissions cuts. A recent meeting saw no resolution, with final decisions deferred to an upcoming ministerial gathering where support from 15 out of 27 members will be critical for approval.