The European Commission is set to propose a legally binding climate target for 2040, aiming to reduce emissions by 90% compared to 1990 levels.
The proposal includes allowing member states to use international carbon credits from a U.N.-backed carbon market to meet up to 3% of their emission reductions, starting in 2036. This approach aims to address concerns from member states regarding the financial burden of domestic emissions reductions.
The European Scientific Advisory Board on Climate Change (ESABCC) has criticized the proposal, warning against over-reliance on international carbon credits. Denmark's Climate Minister has urged European nations to stay committed to the green transition.