EU Steps Back on 2040 Climate Goal in Order to Win Over Doubters
Air conditioning units on apartment buildings in Barcelona.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
The European Union has gone back to the drawing board for its 2040 climate target in a bid to make sure it can secure a majority among the bloc’s 27 member states and parliament.
The EU’s climate chief Wopke Hoekstra said coming up with a new goal would probably take “a couple of months.” The European Commission initially wanted a target to cut 90% of emissions by 2040 compared to 1990 levels — a level it will still treat as a starting point, while showing flexibility in order to secure political support.