EU Parliament to Vote on 2040 GHG Reduction Targets in February
The European Parliament is set to vote on revisions to the European Climate Law in February, aiming for a binding goal of a 90% reduction in greenhouse gas emissions by 2040 compared to 1990 levels. The environment committee approved the targets with a vote of 50 in favor and 26 against, and the proposal will require a qualified majority from EU states for final adoption. The revised law also includes provisions for high-quality international carbon credits starting in 2036 and postpones the inclusion of road transport and heating fuels in the emissions trading system until 2028.

The European Parliament will vote on revisions to the European Climate Law to set a binding goal of net 90% GHG reductions by 2040 compared to 1990 levels. The environment committee approved the targets on January 19, with 50 in favor and 26 against.
A session in Strasbourg is expected from February 9-12. Following parliamentary approval, the agreement must be adopted by a qualified majority of EU states to take effect. The revised law will permit high-quality international carbon credits from 2036 and delays the inclusion of road transport and heating fuels in the emissions trading system from 2027 to 2028.




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