Brussels: The European Commission on Wednesday proposed a legally binding target to reduce the EU's net greenhouse gas emissions by 90% by 2040 compared to 1990 levels. The amendment to the EU Climate Law aligns with the bloc's goal of achieving climate neutrality by 2050 and aims to provide predictability for investors, boost clean energy innovation, and strengthen Europe's energy security.

According to Anadolu Agency, European Commission President Ursula von der Leyen emphasized the EU's commitment to decarbonizing the European economy by 2050, stating that the goal is clear and the journey is pragmatic and realistic. The 2040 target builds on the existing 2030 goal of cutting emissions by at least 55% and introduces new flexibilities, including limited use of international carbon credits after 2036, integration of carbon removals into the EU Emissions Trading System, and greater sectoral flexibility.

The commission also unveiled a package of measures under the Clean Industrial Deal to support the new target. This includes a revised state aid framework, tax incentives, and simplified rules under the Carbon Border Adjustment Mechanism (CBAM) to encourage clean energy investment and reduce carbon leakage.

European Commission Executive Vice-President Teresa Ribera and Climate Commissioner Wopke Hoekstra presented the proposal at a joint press conference, highlighting the need to balance climate responsibility with economic resilience. Ribera noted that 85% of EU citizens view climate change as a significant threat and called for full responsibility in addressing this challenge.

Hoekstra described the 2040 target as the next step in strengthening the EU's competitiveness, security, and climate goals. He mentioned that decarbonization, if done correctly, will serve as a powerful growth engine and reduce the bloc's reliance on fossil fuel imports.

The proposal will now be reviewed by the European Parliament and European Council for debate and adoption under the ordinary legislative procedure. It will guide the EU's post-2030 climate and energy framework and serve as the bloc's contribution ahead of COP30 in Brazil later this year.