EU Climate Change Target: EU agrees to cut GHGs by 90% by 2040 from 1990 level

The EU and the European Parliament amended the EU climate law, which includes the possibility to use high-quality international credits to reach the 90% greenhouse gas emissions target cut by 2040 from 1990 levels with a contribution of up to 5% to meet the EU decarbonisation goals by 2050 and Paris Agreement targets.

Key Points:

1. The European Union is showing its commitment to the Paris Agreement after the Conference of the Parties 30 (COP30).

2. Introduce the legally binding target of 90% emission reduction of GHGs by 2040.

3. A clear direction towards climate neutrality and commitment to go carbon neutral by 2050.

4. A pragmatic and flexible plan to make the clean transition more competitive

5. Full implementation of the Clean Industrial Deal

6. High-quality international credits to contribute towards 2040 targets, starting in 2036 with a contribution reduction of up to 5% of 1990 EU net emissions by safeguarding Article 6.4 of the Paris Agreement. 

7. Use of the EU Emissions Trading System (EU ETS) for domestic permanent emissions removals.

8. Highlighted the importance of fair competitiveness of European industry and economy and the use of clean technology and renewable energy solutions.

The EU news target for emissions highlights its commitment to climate change and agreements such as the Paris Agreement 2015, climate neutrality by 2050 and reducing net GHS emissions by at least 55% by 2030.

What is carbon neutrality and the EU target of zero greenhouse gas emissions?

Carbon neutrality is a concept which means balancing CO₂ (carbon dioxide) emissions with removal by creating zero net balance. In other words, this means reaching that level where the same amount of CO₂ is released into the atmosphere as is removed from the atmosphere (also known as zero carbon footprint).

The European Union aims to be climate neutral by 2050, an economy with net zero greenhouse gas emissions (climate neutrality), which is a legally binding target for member states because it is a part of the European Green Deal. and reduce net greenhouse gas emissions by at least 55% below 1990 levels.

How can we achieve carbon neutrality?

There are various ways in which we can reduce greenhouse gas emissions from the atmosphere, such as:

1. Limiting the GHSs emissions sources by adopting the alternatives like electronic vehicles, renewable energy, etc.

2. Saving and protecting the forests and plants to create the carbon sinks.

3. Aligning with the goal of the UNFCCC Paris Agreement and Sustainable Development Goals (SDGs).

4. Sustainable (climate-friendly) policy formation and implementation.

Know more about the Paris Agreement or COP 15 

It is the first legally binding universal international agreement on climate change, adopted by 195 parties at the COP15 of the UNCCC (United Nations Framework Convention on Climate Change) in Paris, France, which came into force in November 2016.

 Objective: 

1. To limit the global average temperature increase to 1.5 degrees Celsius above pre-industrial levels

2. To limit global warming to 1.5 degrees Celsius 

3. 43% decline in GHGs by 43% by 2030

4. Parties will set their own emission reduction targets, known as nationally determined contributions (NDCs), and must update them every 5 years to show progress.

5. Developed countries provide financial support to developing countries to help them implementation of climate actions

What are India's targets for climate change?

India is an emerging economy where greenhouse gas emissions are set to increase, albeit from a low base, in pursuit of its development and poverty eradication goals. 

India’s responsibility for global warming thus far has been minimal, and even today its annual per capita emissions are only about one-third of the global average.

• India, at the 26th session of the UNFCCC (COP 26) in November 2021, announced its target to achieve net zero by 2070, known as Panchamrit in recognition of Para 19 of Article 4 of the Paris Agreement.

• India targets to reach a non-fossil energy capacity of 500 GW and to meet 50% of its energy requirements from renewable sources by 2030 to limit the GHG emissions.

• To reduce the carbon intensity of its economy by 45% by 2030 as compared to 2005 levels.

• To create an additional carbon sink of 2.5 to 3 billion tonnes of CO₂.

• Promoting the government initiatives such as National Solar Mission and the Carbon Credit Trading Scheme (CCTS)  and climate-friendly technologies

The European Union's new legally binding target to cut net greenhouse gas emissions by 90% by 2040 is a decisive commitment that aligns with its 2050 climate neutrality goal. While the transition to climate-friendly technology would be challenging for the industries, the plan needs to ensure the move to a green economy is conducted as a fair and competitive transition for everyone.