On Tuesday, the European Parliament approved, by a large majority, the European Union’s new climate target to reduce greenhouse gas emissions by 90% compared with 1990 levels by 2040 – 413 Members of Parliament voted in favour, 226 against. 

The new target still needs to be endorsed by EU countries, which is expected for March and considered a formality.

The EU already has binding climate targets for 2035 and 2050, and the new goal is an interim step toward achieving climate neutrality by 2050, meaning it emits no more greenhouse gases than it absorbs. 

The members of parliament voted 413 in favor, 226 against, and 12 abstentions in favor of amending the climate law.

55% less emissions by 2030

By 2030, emissions must fall by 55% from 1990 levels. According to the European Environment Agency (EEA), the EU is largely on track to meet the 2030 target.

Under the deal, 5% of the required reductions can be achieved through international offsets. This means that from 2036 onward, EU member states will be allowed to offset 5 percent of their emissions outside Europe by purchasing CO2 credits, the so-called ‘carbon credits’ that count as domestic reductions. 

As previously agreed with the member states, the launch of the Emissions Trading System in sectors such as transport and building heating (ETS2) will be postponed by one year, until 2028. Furthermore, the European Commission must evaluate and adjust the target every two years.

Significantly weakend

The Member States and Parliament reached an agreement on the new climate target at the end of last year. The Commission’s original proposal was significantly weakened. Of the Belgian parties, Vlaams Belang and N-VA voted against the amendment to the climate law on Tuesday.

N-VA advocates for “a realistic climate path that accelerates innovation and technology, protects competitiveness, keeps jobs and strategic production in Europe, and does not financially stifle families and businesses.”