MEPs have backed changes to the EU Climate Law that would set a binding 2040 target to cut the bloc’s net greenhouse gas emissions by 90% compared with 1990 levels.
The European Parliament approved the political agreement with the Council by 413 votes to 226, with 12 abstentions, the parliamentary press service announced on Tuesday.
Under the revised law, EU countries would be allowed to meet part of the 2040 goal using “high-quality” international carbon credits — units generated by emissions-cutting projects outside the EU — from 2036.
Up to five percentage points of the net emissions reduction could come from those credits, and they could only be used for sectors not covered by the EU Emissions Trading System (EU ETS).
The credits would also have to come from partner countries whose climate targets and policies are compatible with the Paris Agreement.
Emissions trading changes and reviews
The changes also allow “domestic permanent carbon removals” — such as storing carbon so it does not return to the atmosphere — to be used to compensate for emissions that are hard to eliminate in parts of the EU ETS, the statement said.
A separate emissions trading system known as ETS2, covering CO2 emissions from fuel use in buildings and road transport, would be postponed by a year from 2027 to 2028.
Progress towards the 2040 target would be assessed by the European Commission every two years, taking into account updated scientific data and technological developments, as well as factors including energy price trends and industrial competitiveness.
After those reviews, the Commission could propose further changes to the climate law, including modifying the 2040 target or adding supporting measures.
Once the Council endorses the text, the changes would enter into force 20 days after publication in the EU Official Journal.
The EU Climate Law already makes climate neutrality by 2050 legally binding and sets a binding 2030 target to cut net emissions by at least 55% compared with 1990 levels.
