EU Climate Ministers' Race Against Time: Striking a Delicate Balance
EU climate ministers debated a reduced 2040 emissions cut target, aiming for a 90% reduction with flexibility to use foreign carbon credits. Last-minute negotiations showcased divisions among member states, with some pushing for further weakening of the target. Countries reconvened to finalize and vote on the compromise.
In a tense race against the clock, EU climate ministers edged closer to setting a 2040 climate target early Wednesday. The draft document unveiled compromises reflecting late-night negotiations, with a weakened emission reduction goal of 90%, reduced further to 85% due to flexibilities added for foreign carbon credits.
These concessions allow European industries to buy international carbon credits, potentially further reducing their domestic target. In a bid to gather support from sceptical countries, the draft proposes postponing the launch of an upcoming EU carbon market by a year, placating Poland and the Czech Republic's opposition to the policy.
As EU ministers continued discussions, the passage of the new target remained uncertain, hinging on majority support from member states. The urgency mounts with the looming COP30 summit, as the EU seeks to demonstrate its international climate leadership.
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