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.
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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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