EU Climate Chief urges action as Bloc faces uncertainty pver 2040 targets. Source image: ESG Today
(The Post News)- The European Union (EU) is likel6y to meet its 2030 climate goals, but its plans for deeper emissions cuts by 2040 are uncertain.
According to the European Commission’s analysis, the EU’s emissions are projected to drop by 54% by 2030, just shy of its 55% target.
EU climate chief Wopke Hoekstra noted that the EU has achieved a 37% reduction in emissions since 1990 while growing its economy by nearly 70%, demonstrating that climate action and economic growth can go together.
The EU also highlighted differences between member states and challenges in preserving forests and carbon storage.
The commission specifically called on Belgium, Estonia, and Poland to submit their energy and climate plans without further delay.
Energy commissioner Dan Jorgensen stated that while progress has been made, more work is needed to reach the EU’s climate goals.
The EU aims to be carbon neutral by 2050 and is working on a 2040 interim target, with the commission proposing a 90% emissions reduction.
However, EU countries are struggling to agree on the 2040 target, and the commission has hesitated to formally propose a 90% emissions cut.
Some countries, including the Czech Republic and Italy, consider the 90% emissions cut target unrealistic.
This year, the EU has prioritised boosting European businesses’ competitiveness against strong competition from the US and China.
The commission is exploring more flexible approaches to meeting the 2040 target, including buying carbon credits on international markets.
The commission plans to submit a formal proposal before summer and aims to be prepared for the UN COP30 climate conference in Brazil in November.
Environmental groups are worried about the delays, especially after the US withdrew from the Paris climate agreement, and are urging Europe to take a leadership role in addressing climate change.
Environmental organisations are also concerned that the European Green Deal, a key initiative of commission chief Ursula von der Leyen, may be dismantled due to increasing criticism.
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