STRASBURGO (FRANCIA) (ITALPRESS) – Euro MPs have finally approved, with 413 votes in favour, 226 against and 12 abstentions, amendments to the EU Climate Act introducing a new intermediate and binding climate target for 2040, a reduction of 90% of net greenhouse gas emissions (GES) compared to 1990 levels. The new regulation is the result of a political agreement with the Council. Among the novelties adopted are the introduction of margins of flexibility on the procedures for achieving the objective for 2040. From 2036, up to five percentage points of net emissions reductions (two percentage points more than the Commission’s proposal) may come from high quality international carbon credits from partner countries. At the request of Parliament, these credits may be used exclusively in sectors not regulated by the EU Emission Share Exchange System (EU ETS) and only if coming from partner countries whose climate objectives and policies are compatible with those of the Paris Agreement. MEPs also introduced guarantees to avoid funding projects contrary to EU strategic interests.
The text also provides for the possibility of using permanent carbon removals to compensate for the difficult to reduce emissions between the sectors covered by ETS, as well as greater flexibility between the different sectors and the reduction tools available. This flexibility aims to achieve reduction targets in the most efficient way in terms of cost, ensuring that the green transition and the strengthening of EU competitiveness go hand in hand. Finally, the introduction of ETS2 is postponed one year, from 2027 to 2028. ETS2 covers carbon dioxide emissions from fuel combustion in buildings and road transport. The Commission will assess progress towards the objective every two years, in the light of the latest scientific data, technological developments and the situation of industrial competitiveness of the EU. It will also take account of trends in energy prices and their repercussions on enterprises and families, as well as the status of net removals at EU level with respect to what is necessary to achieve the objective of 2040.
Following this review, the Commission will be able to propose an amendment to EU climate legislation, which could include an adjustment of the target for 2040 or additional measures to strengthen the support framework, for example to protect the competitiveness, prosperity and social cohesion of the EU. Once the Council has formally approved the text, it will enter into force 20 days after publication in the Official Journal of the European Union. European climate regulation makes the goal of climate neutrality within 2050 a legally binding obligation for all Member States. It also establishes a legally binding objective to reduce net greenhouse gas emissions by at least 55% by 2030 compared with 1990 levels.
– photo IPA Agency –
(ITALPRESS).
