The European Union has recently approved a new climate target: a 90% reduction in greenhouse gas emissions by 2040 compared to 1990 levels. Although the initial plan was more ambitious, the final result was softened by pressure from certain member states.
Italy, Romania, Poland and others demanded concessions, including the right to purchase international carbon credits. The EU can now count up to 10% of its reductions through overseas credits in exceptional circumstances, bringing the actual domestic reduction requirement down to 80%.
The climate goal can be reviewed every two years if found to harm the economy too much. Germany and Italy also compromised due to industrial interests.
Scientists and countries like the Netherlands opposed these loopholes, arguing they reduce internal efforts’ effectiveness. However, a majority agreed to the deal.
Hungary, Czechia and two other states voted against. The final decision must still be approved by the European Parliament.
The concessions are criticized for encouraging the outsourcing of decarbonization and potential loss of EU investments, while supporters believe they will help fund green projects in developing nations.
For Ukraine, this could open opportunities for reforestation or energy modernization projects suitable for EU carbon credit sales.
The EU continues to balance economic interests and climate goals, as global policy gradually reconsiders the approach to decarbonization.
