EU Proposes 90% CO2 Cut by 2040 Amid Czech Opposition

The European Commission has proposed an ambitious new target to reduce net greenhouse gas emissions by 90% by 2040 compared to 1990 levels, aiming to keep the EU on track for climate neutrality by 2050. This proposal builds on the existing 2030 target of a 55% reduction and seeks to provide certainty for investors while enhancing Europe's industrial leadership and energy security. Finland supports the proposal, highlighting the importance of long-term, technology-neutral climate policies that consider uncertainties in the land use sector. However, the Czech Republic strongly opposes the target, expressing concerns over the potential impact on domestic industries despite the Commission's inclusion of flexibilities to ease the burden. To accommodate resistant member states, the EU plans to allow up to 3% of emission reductions to be met through international carbon credits after 2036, a measure criticized by climate groups for possibly undermining domestic emission reduction efforts. The proposal faces a sensitive political debate as it requires approval from both the EU member states and Parliament.