EU Ministers Agree on 90% Emissions Reduction Target Ahead of COP30
Full Transcript
European environment ministers have reached an agreement to cut greenhouse gas emissions by 90% by 2040, ahead of the COP30 climate conference in Brazil. This plan aligns with the European Commission's proposals and includes a framework that sets the stage for a 2035 reduction target compared to 1990 levels.
However, the negotiations were contentious, particularly regarding the role of carbon credits in achieving these targets. Germany pushed for a limit on offsets to about 3%, while France and Poland advocated for a more extensive use of carbon credits.
This agreement is significant as it reflects the EU's commitment to climate action while also facing pressure from the international community, which is looking for higher ambition levels in light of missed deadlines for submitting updated national climate plans under the Paris Agreement.
UN Secretary-General Antonio Guterres has emphasized that current commitments are insufficient and warned about the risk of exceeding the 1.5-degree Celsius warming limit if countries do not step up their efforts.
He described the situation as 'progress, but nowhere near enough,' urging global leaders to reaffirm their commitment to more stringent climate targets. As the EU prepares to present these new goals at COP30, discussions will also focus on adaptation measures and climate finance, with a roadmap aiming for an increase in international climate finance to 1.3 trillion dollars annually.
The urgency for significant climate action is underscored by the fact that only a third of the countries have submitted their updated climate goals, leaving a substantial portion of global emissions unaccounted for.
In this context, the EU's ambitious target represents a crucial step towards meeting global climate goals and showcases the bloc's leadership in the global climate negotiations. The upcoming COP30 conference in Belem, Brazil, is expected to draw attention to these issues, with around 50 heads of state in attendance, as well as discussions on Brazil's Tropical Forest Forever Fund, aimed at incentivizing forest conservation.
President Lula of Brazil has emphasized the need for concrete actions rather than discussions, indicating a desire for the conference to catalyze genuine progress towards climate commitments. As the world faces the escalating impacts of climate change, the outcomes of COP30 will be pivotal for setting the direction of international climate policy and action in the coming years.