05/03/2026 (Agence Europe) – On Thursday 5 March, the EU Council formally validated the agreement on the introduction of a binding interim climate target for 2040 in the ‘European Climate Law’ (see EUROPE 13770/1). This is a target of a 90% reduction in net greenhouse gas emissions compared with 1990 levels, including the use of international carbon credits, which can contribute to 5% of these net emissions, from 2036. In other words, at least 85% of emission reductions will have to be achieved within the EU. The agreement also postpones the date of entry into force of the ETS2 emissions trading system by one year, from 2027 to 2028. This is the final stage in the legislative process. The amended regulation will enter into force 20 days after its publication in the Official Journal of the EU and will immediately apply in all EU Member States. (PLD)