EU Sets 90% Emissions Target for 2040 as Heat Wave Intensifies

• Outsourcing emissions reduction puts heavily polluting industries in Europe at an advantage.
• Not all EU members agree with the proposal amid worries and differences.
• Experts and environmental groups say that the recommendation is ineffective and misleading and is never intended to reduce emissions.

The European Union (EU) has recently mooted a new climate target of reducing greenhouse gas emissions by 90% by 2040 in comparison to 1990 levels, in the middle of the scorching sun and the resultant heat wave across Europe.

Part of the EU’s long-term plan to achieve net-zero emissions by 2050, the proposal comes at a time when Europe is teetering under an extreme heat wave, highlighting the urgent need to expedite climate action.

So far, the EU has reduced emissions by 37% and now has a target to cut emissions by 55% by 2030.

Having a new climate goal in place, according to the European Commission, will provide clarity to investors, breathe new life into Europe's energy industry, and ensure energy security.

READ MORE: 198 Signatories Back Strong EU Sustainability Rules in Joint Statement

However, not all members have jumped on the bandwagon, as a brewing disagreement regarding one part of the proposal — the use of international carbon credits — has erupted into controversy.

It is widely discussed that this flexibility clause may let EU countries invest in climate projects abroad from 2036 onwards and add up to 3% of emissions reductions from those projects to their own climate goals.

Some quarters, including environmental groups and industry experts, said that the proposal's genuineness as regards climate goals has been wanting, and insist on reducing emissions within Europe as they are growing increasingly wary of the fact that some projects in other countries may perform poorly and, as a result, may not have the intended effect of cutting emissions.

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They also warned that the repercussions of outsourcing emissions reductions may turn the tables for polluting industries, allowing them to avoid making real changes, subsequently dampening Europe's overall climate action.

On one hand, among the countries supporting the new 90% target are Denmark and Spain. They said this proposal is promising and creates economic opportunities through the energy transition. Denmark, by the way, has given the 2040 goal top priority.

On the other hand, Italy and the Czech Republic, for example, say the target is too ambitious. Italy is recommending a target between 80–85%. In the meantime, French President Emmanuel Macron calls for ensuring the 2030 targets first instead of setting further ones.

Besides, there is also a discourse on the carbon credit cap. Though the proposal includes a provision of a 3% allowance for using international carbon credits, France has reportedly proposed increasing it to 10%.

Pretty much to the chagrin of supporters, Friends of the Earth, an international network of grassroots environmental organisations, rejected this concept and said it is ineffective and misleading and will never put a chokehold on Europe's high-emitting industries.

ALSO READ: Swiss Council Pauses Climate Disclosure Revision

Notwithstanding this discord, public support for climate actions continues to pour in. According to a new survey, 85% of Europeans opine that climate change is a looming problem, and tackling it now would be much cheaper than paying for damages caused by future extreme weather.

Finally, to bring the bid to fruition, it should be approved by the European Parliament and member states. The EU expects to finalise it before the UN climate summit in Brazil later this year, but the ongoing tensions or contentions might end up holding it off for now.

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Source: DW