Brussels – On the intermediate 2040 climate target of reducing emissions by 90 per cent compared to 1990 levels, this is the week of the European Parliament. After the agreement reached last Wednesday by the member states of the Union—the result of negotiations lasting a night and a day—today came the green light from the EU Parliament’s Environment Committee (ENVI). And already on Thursday the text—a compromise between the European People’s Party (EPP), the Socialists and Democrats (S&D), the Renew Liberals, and the Greens – will be submitted to the plenary for approval: if the plenary supports it, at that point the inter-institutional negotiations, between the Commission, Parliament and Council, can begin in order to arrive at the final version of the document.

The main elements of ENVI’s text are basically in line with the positions expressed by the Council last week: the possibility, from 2036, for 5 per cent of emission cuts to come from international carbon credits; the postponement of ETS2 to 2028; and the biennial progress report, with the possibility of revising the target for 2040. ENVI’s position on the Commission’s proposal to amend the EU climate law, which sets a new additional, intermediate and binding climate target for the EU by 2040 to reduce net greenhouse gas (GHG) emissions by 90 per cent compared to 1990 levels, was adopted by 55 votes to 32 (0 abstentions).

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