EU: Climate Law Amendment To Reduce Emissions By 90% By '40

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, July 2 (KUNA) -- The European Commission proposed on Wednesday an amendment to the EU Climate Law to cut net greenhouse gas emissions by 90 percent by 2040 compared to 1990 levels in line with its 2024-2029 political guidelines.
In a press release, the Commission said the new proposal aims to provide greater certainty for investors, boost innovation, strengthen European industrial leadership, and enhance energy security across the continent.
It noted that the proposal comes at a time when the latest Eurobarometer survey shows strong public support for continuing the EU's clean transition agenda.
According to the Commission, the proposal is based on a comprehensive impact assessment and wide-ranging consultations involving EU Member States, the European Parliament, stakeholders, and civil society.
It also draws on recommendations from the Intergovernmental Panel on Climate Change and the European Scientific Advisory Board on Climate Change.
The proposed amendment, the statement explained, introduces a more flexible and realistic approach to achieving climate targets.
This includes mechanisms such as the use of high-quality international carbon credits starting in 2036, the permanent removal of carbon within the EU Emissions Trading System and cross-sectoral flexibilities among Member States allowing, for example, a country to offset underperformance in land use with overachievement in sectors like waste or transport.
The Commission emphasized the importance of accelerating the creation of enabling conditions to reach the 90% target.
These include ensuring a just transition that leaves no one behind, boosting industrial competitiveness, and maintaining fair competition with international partners.
In this context, the Commission also announced the first steps of implementing the "Clean Industrial Deal" a key component of the roadmap toward the 2040 target.
This includes the adoption of a State Aid Framework to support investment in clean energy transition and simplification of the Carbon Border Adjustment Mechanism to protect European industries from carbon leakage.
The Commission also issued new recommendations on tax incentives to encourage investment in clean technologies, along with guidance on optimizing the use of renewable energy rules within the EU to lower costs and expand clean energy adoption.
The Commission affirmed that the proposed target sends a clear message to the international community: the EU remains committed to the Paris Agreement and will continue working with global partners to reduce emissions.
It added that coordination with the Council Presidency is ongoing to finalize the EU's Nationally Determined Contribution ahead of the upcoming COP30 Climate Summit, to be held this November in Belem, Brazil.
The proposal will now be submitted to the European Parliament and the European Council for discussion and adoption under the ordinary legislative procedure.
Once adopted, it will serve as a benchmark for shaping the EU's post-2030 climate policy framework. (end)
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