EU's Bold 2040 Climate Pledge: A Path to 90% Emission Cuts

The European Union has set a legally binding target to reduce greenhouse gas emissions by 90% by 2040, using 1990 levels as a baseline. This ambitious goal will rely on an 85% reduction within its industries and purchasing carbon credits to cover 5% of the emissions, effective from 2036.

The European Union has reached a historic agreement on a legally binding climate target, aiming for a 90% reduction in greenhouse gas emissions by 2040, based on 1990 levels. Announced by the European Parliament, this decision marks a significant step in global climate policy.

Central to this pledge is a monumental 85% emissions cut across European industries, highlighting the EU's commitment to leading by example in the fight against climate change. In addition, the plan allows for the purchase of foreign carbon credits to account for the remaining 5% of emissions reductions starting from 2036.

Before becoming law, both the EU Parliament and member countries need to formally approve these changes, a step typically considered procedural given the prior consensus reach.

(With inputs from agencies.)