EU's New Climate Target: Flexibility Amid Controversy

The European Commission is poised to unveil a new climate target for the European Union, slated for July, with the intention of reducing net greenhouse gas emissions by 90% by the year 2040, benchmarked against 1990 levels. Sources indicate that this proposal aims to address increasing criticism from various quarters regarding Europe's environmental goals.

The Union's climate commissioner, Wopke Hoekstra, confirmed the plans during a private meeting with representatives from member states. The outlined target, while ambitious, includes built-in flexibilities allowing for lower domestic reductions and the utilization of international carbon credits, easing the transition for industries within the EU.

Nevertheless, the Commission is caught amidst conflicting views, with some countries like Finland and the Netherlands in favor, while others such as Italy and the Czech Republic oppose. Germany offers conditional support, contingent upon the acceptance of international carbon credits to fulfill part of the emissions reduction commitment.

(With inputs from agencies.)