The European Commission unveiled a proposed amendment to the EU Climate Law on Wednesday, setting the stage for a new EU-wide climate goal for 2040. The proposal aims for a 90 percent reduction in net greenhouse gas emissions compared to 1990 levels. The Commission stated that this target is intended to provide investors with greater certainty, bolster the competitive standing of European industries and enhance Europe’s energy security. Recent Eurobarometer survey data indicates strong public support for EU climate action, which the EU believes provides a strong mandate for continuing its “clean transition” agenda. The EU asserts it is currently on track to achieve its 2030 target of a 55 percent emissions reduction. European Commission President Ursula von der Leyen emphasized the growing expectation from citizens for decisive action on climate change. “European citizens are increasingly feeling the effects of climate change and they expect Europe to act” she said. Von der Leyen added that industry and investors are looking for a predictable direction and the proposal demonstrates the EU’s commitment to decarbonizing the European economy by 2050. She described the goal as clear and the path to achieving it as “pragmatic and realistic”. The Commission’s proposal will now be submitted to the European Parliament and the Council for discussion and adoption through the ordinary legislative procedure. The agreed-upon EU climate goal will also serve as a benchmark for the EU’s future policy framework beyond 2030.
EU’s Bold Climate Target Will Shock the World
