Agreement reached to raise EU's emissions-cutting goal to 55 percent

Dec 11, 2020

EU leaders have agreed to raise the bloc’s 2030 emissions-cutting goal to from 40 to 55 percent. 

The final deal still needs to be argreed with the European Parliament, which wants a 60 percent cut.  However, hitting even the 55 percent reduction goal for 2030 means a huge new regulatory rollout by the Commission next year. this is likely to target every sector of the economy. The deal also calls for reforming the Emissions Trading System.

Speaking about the negotiations, European Council President Charles Michel tweeted  that “Europe is the leader in the fight against climate change,” and the agreement is seen is an important step for the European Green Deal’s aim to reach climate neutrality by 2050.

Changes, including aassrances of financial and regulatory support, had to be made to the final text of the agreement to reassure poorer, coal-reliant countries in Central and Eastern Europe. These countries were concerned that they would have to bear the brunt of the costs of raising the target from its current 40 percent. The agreement also gives assurances they can use nuclear power and natural gas to replace dirtier fossil fuels like coal.

The 2030 goal will be delivered by the bloc collectively, rather than at national level.