EU Leaders Agree on Flexible 2040 Climate Target Amid Industry Concerns

European Union leaders have agreed on a more flexible approach to the bloc's 2040 climate target, emphasizing the need for a revision clause that would allow adjustments based on scientific developments, technological advances, and economic considerations. The EU aims for a 90% reduction in net greenhouse gas emissions by 2040 compared to 1990 levels, a key step towards its 2050 climate neutrality goal, but concerns remain about the financial implications and competitiveness of European industries. Leaders also highlighted the importance of carbon dioxide removal technologies and high-quality international carbon credits to meet emissions goals. Discussions have included calls to reduce regulatory burdens on businesses and a potential revision of the planned phase-out of combustion vehicles by 2035. The talks are seen as a delicate balance between maintaining ambitious climate commitments and addressing economic and political realities, with Commission President Ursula von der Leyen seeking to preserve her green legacy while accommodating member states' concerns. These efforts come ahead of global climate negotiations at COP30 and aim to secure both environmental progress and economic competitiveness for the EU.