2040 target: Milestone on the road to net-zero CO2 emissions

Members of the European Parliament have just approved the EU's climate target for 2040. The EU is committing to reducing emissions by 90 per cent by 2040. The Greens/EFA were able to push through quality standards for the certificates to help rule out fraud.

Bas Eickhout MEP, President of the Greens/EFA Group, comments:

“We need an independent Europe, free from reliance on foreign fossil oligarchs and autocrats. The EU Climate Law provides a clear way forward: planning security for massive investments in the green economy, industry and high-quality jobs.

“The next step is Europe's independence moment, channeling huge investments into innovative European clean industry. Made in Europe must become a seal of quality for jobs in the EU, electric mobility, investment in green technologies and independence.”

Lena Schilling, Greens/EFA shadow rapporteur in the Environment Committee, comments:

“In political times like these: Ninety percent reduction in emissions by 2040 is a hard-won milestone on the road to climate neutrality. But, to make this a reality, we need a change of direction in the EU. If EU standards continue to be thrown under various Omnibus packages of deregulation, then progress on climate neutrality, clean energy, green jobs and a liveable future will be crushed.

“International pollution certificates are an expensive downer that will neither create jobs nor bring investment in industrial transition, and will cost taxpayers a lot of money. Thanks to pressure from green groups, there are at least strict quality standards in place.

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The climate target finally agreed today sets a decisive milestone for the next 14 years on the road to net-zero CO2 emissions by 2050. The downside is the international pollution certificates and the resulting costly outsourcing of climate protection to countries outside the EU. The money will be lacking within the EU for massive investments in the green economy and industry.