After intense negotiations extending into early Wednesday morning, European Union member states reached a compromise to formally set the bloc\u2019s next climate target \u2014 a 90% reduction in greenhouse gas emissions by 2040 compared to 1990 levels. The deal resolves months of disputes among countries such as Poland, the Czech Republic, and Hungary, which had expressed concerns about the economic impact of stricter climate goals. The agreement introduces greater flexibility by allowing the use of international carbon credits to meet part of the target and delays the implementation of the expanded Emissions Trading System (ETS2) by one year, now scheduled to launch in 2028.<\/p>\n
Beyond the 2040 objective, the pact also establishes an interim 2035 target to cut emissions by 66.25% to 72.5%, forming the EU\u2019s updated Nationally Determined Contribution (NDC) under the Paris Agreement. With this deal, the EU positions itself to arrive at COP30 in Bel\u00e9m with renewed climate ambition, while providing businesses with the regulatory predictability needed for the green transition. According to Climate Commissioner Wopke Hoekstra, the agreement strengthens Europe\u2019s international leadership by showing progress through realistic yet ambitious action.<\/p>\n