Brussels (ANSA) – A lengthy negotiation span of over 24 hours has resulted in an agreement among the twenty-seven EU countries to reduce emissions by 90% by 2040, marking a significant step towards achieving climate neutrality by 2050. To address concerns from certain capitals, including Rome, the agreement incorporates flexibility and concessions to ease the transition.
Environment Minister Gilberto Pichetto Fratin stated that the compromise considers Italy’s interests, emphasizing the inclusion of biofuels in the decarbonization of transport within the agreement. The target remains set at 90%, as proposed by the EU Commission in July.
However, the agreement allows for up to 5% of the target to be met through ‘high-quality’ international carbon credits, an increase from the previously suggested 3%. This adjustment effectively lowers the EU’s emissions target to 85%. The carbon credits, derived from CO2 absorption initiatives outside the EU, will be permitted starting in 2036, with a pilot phase planned between 2031 and 2035.
The European Commission will outline the timing and funding mechanisms, with a proposal expected from Commissioner Wopke Hoekstra. In response to leaders’ requests, the EU will implement a strengthened review clause, enabling reassessment of the entire climate legislation, including potential adjustments to the 2040 target.
Every five years, as requested by Italy, the use of an additional 5% of international credits will be evaluated to support national emissions reduction efforts in transport, construction, agriculture, waste, and land use. This milestone achievement is celebrated by Brussels, as it occurs just before the commencement of Cop30 in Belém, allowing the EU to present a united front.
“This agreement marks a significant milestone on our path to neutrality,” declared Ursula von der Leyen upon her arrival in Brazil, where she is set to meet with global leaders at the thirtieth United Nations climate conference (November 5).
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