BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European Commission has proposed an amendment to the EU Climate Law, setting a 2040 EU climate target of 90 percent reduction in net greenhouse gas emissions, compared to 1990 levels, as requested by the Commission Political Guidelines for 2024-2029.
The target that has been reset is expected to give certainty to investors, innovation, strengthen industrial leadership of EU businesses, and increase Europe's energy security. The latest Eurobarometer this week showed strong citizens support for EU climate action, providing a solid mandate to stay the course of the EU's clean transition agenda.
The EU is well on track to meet its 2030 target of 55 percent reduction in net greenhouse gas emissions. Tuesday's proposal builds on the EU's existing legally binding goal of reducing net GHG emissions by at least 55 percent by 2030, and sets out a more pragmatic and flexible way to reach the target, with a view towards a decarbonised European economy by 2050.
European Commission President Ursula von der Leyen said, 'As European citizens increasingly feel the impact of climate change, they expect Europe to act. Industry and investors look to us to set a predictable direction of travel. Today we show that we stand firmly by our commitment to decarbonise European economy by 2050. The goal is clear, the journey is pragmatic and realistic.'
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