EU Reaches Climate Compromise Ahead of COP30 Summit

In a last-minute negotiation, EU climate ministers have reached a consensus on a 2040 climate change target. This compromise sets out to cut emissions by 90% from 1990 levels, while introducing flexibilities that may effectively lower the requirement to 85%.

These concessions allow countries to purchase foreign carbon credits to cover up to 5% of their emission reduction targets. The EU has resolved to consider future use of international carbon credits for an additional 5% reduction, potentially diminishing the domestic target.

The agreement emerges ahead of the U.N. COP30 summit in Brazil, amidst concerns of maintaining industry competitiveness and balancing climate objectives with economic priorities.