EU countries agree on 90 per cent emission reduction target by 2040

EU countries agree on 90 per cent emission reduction target by 2040

Minister Multala: It is most important that we were able to reach an agreement, even if many of the details remained to be decided later.

On Wednesday 5 November, the EU environment and climate ministers reached a common understanding of the EU's 90 per cent emission reduction target by 2040. At the same time, the ministers also agreed on the EU's Nationally Determined Contribution for the COP30 Climate Change Conference in Belém. The EU made a commitment to reduce its emissions by 66.25-72.5 per cent by 2035. The agreement was reached after negotiations that took more than 24 hours.

"I am very happy that we were able to reach a common understanding after the quite difficult negotiations. It is highly important that the 90 per cent emission reduction target is still a key part of the new proposal for the European Climate Law. At the same time, enabling elements and flexibilities were also included in the proposal. However, many of the details remained to be solved later," Minister of Climate and the Environment Sari Multala says.

"In terms of the credibility of the EU, it is essential that we have now completed our Nationally Determined Contribution for the UN Climate Conference, where the Leaders' Summit will start already on Thursday," Minister Multala says.

The Council considers that, starting in 2036, it should be possible to meet up to five per cent of the emission reduction target by 2040 by financing emission reductions outside the EU. A pilot concerning international carbon credits would be implemented in 2031-2035. In future, the implementation of the climate targets would be assessed every two years. In addition, the Commission would assess the development of the biological sink relative to the climate target and, where necessary, could propose adjustments to the 2040 target if forests in the EU sequester less carbon dioxide than was expected. Based on the assessment, the Commission could also propose a higher percentage for the use of international carbon credits. As part of the agreement, a decision to postpone emissions trading concerning fuel distribution by one year would be included in the European Climate Law.

The European Parliament is yet to establish its position on the amendments to the European Climate Law and the 2040 target, after which the Parliament, Member States and Commission will coordinate their views.

Inquiries

Lyydia Ylönen 
Special Adviser to Minister Multala   
tel. +358 50 476 1341
[email protected]

 EU's 2040 target and European Climate Law 
Laura Aho
Ministerial Adviser
tel. +358 295 250 135  
[email protected]

EU's Nationally Determined Contribution (NDC) to the UN 
Outi Honkatukia
Director of the Climate and Chemicals Unit
tel. +358 50 3411 758
[email protected]