The adoption by the European Environment Ministers of the revision of the European Climate Law on Wednesday 5 November (see EUROPE 13746/1) has prompted numerous reactions from environmental organisations and business associations.
The aim of this revision is to incorporate an intermediate target for reducing greenhouse gas emissions by 2040, before achieving carbon neutrality in 2050.
The lengthy negotiations, which began on the morning of Tuesday 4 November and ended more than 24 hours later, led to an agreement on an 85% reduction in the EU’s domestic emissions (compared to 1990 levels), supplemented by the “appropriate” use of a 5% cap on international carbon credits to finance decarbonisation projects abroad.
For many civil society players, this “last-minute” agreement before the launch of COP30 in Belém (Brazil) leaves room for many concessions, but is nonetheless seen as a relief.
“Europe will arrive in Belém with a strong NDC – just in time, but a clear signal that it remains fully committed to the Paris Agreement”, said Laurence Tubiana, Director General of the European Climate Foundation.
The agreement on the 2040 target has effectively paved the way for the adoption of the EU’s NDC (Nationally Determined Contribution), which includes an emissions reduction target for 2035. Member States will present a range of between -66.25% and -72.5% by 2035.
Concessions that raise questions. Despite the adjustments needed to achieve a majority, Neil Makaroff, Director at Strategic Perspectives, believes that “this deal sends a long-overdue signal to investors, businesses, and global partners that the EU will not follow the trend set across the Atlantic and remains committed to the net-zero race”.
On the contrary, Ursula Woodburn, Director of the Corporate Leaders Group Europe, believes that “the inclusion of international carbon credits risks diverting investments that could otherwise accelerate Europe’s own industrial transformation”.
She also considers that the proposed revision clause and potential additional flexibilities “risk undermining the stability that businesses need to invest in the EU’s future”.
Stientje van Veldhoven, Vice-President and Regional Director for Europe at the World Resources Institute, believes that the announcement of the review and postponement of the EU Emissions Trading System (ETS2) “adds to this unpredictability”. (Original version in French by Pauline Denys)