The EU has set a new climate target for 2040

The EU has set a new climate target for 2040: a net 90% reduction in carbon emissions, 5% of which is to be achieved through carbon credits.

Today, the climate ministers of the 27 EU countries set the new climate target.

The original target was a 90% reduction in carbon emissions by 2040 compared to 1990 levels. The ambition of a 90% reduction remains unchanged, but has been converted into a net target. The EU must reduce carbon emissions by 85%, and 5% of the reduction may be achieved through the use of carbon credits. The carbon credits may be used from 2031 onwards.

The climate summit in Brazil will start on November 10. The EU will present its new climate target there. The EU will also announce its interim target for 2035. The EU intends to reduce greenhouse gas emissions by 66.25% to 72.50% by 2035.

The European Parliament is expected to vote on the climate target for 2040 next Thursday.

👉 The investments will provide the necessary funding for climate projects and the development of high-quality technologies. This will stimulate innovation and accelerate the transition to a carbon-neutral economy.