EU's Bold Climate Pact: A Call for Global Partners

The European Union has agreed to cut greenhouse gas emissions by 90% from 1990 levels by 2040. This includes purchasing foreign carbon credits to offset five percent of emissions. The decision follows significant negotiation due to divided opinions within EU countries regarding the feasibility and cost of the plan.

The European Union has forged a ground-breaking climate deal to reduce greenhouse gas emissions by an ambitious 90% by 2040, compared to 1990 levels. The intricate agreement involves procuring foreign carbon credits for five percent of their reductions, as confirmed by the European Parliament on Wednesday.

Aimed at slashing emissions by 85% from EU industries alone, the accord would further necessitate EU members to financially compensate non-member countries for emission cuts starting in 2036, bridging the gap toward their target. Approval from both the European Parliament and individual EU countries remains pending, generally a procedural step for pre-arranged agreements.

This climate pact stands as one of the EU's most progressive moves, surpassing pledges by other global economies, albeit toned down from initial proposals due to varying stances within the bloc. Countries like Poland, Slovakia, and Hungary resisted deeper cuts, citing economic strains, while others pushed for aggressive targets in light of escalating environmental calamities and international market competition.

(With inputs from agencies.)