With large parts of Europe gripped in a record-breaking heat wave, the European Commission has proposed that the bloc reduce its net greenhouse gas emissions 90% by 2040. That’s in comparison to levels back in 1990, and on track to meet the target of net-zero emissions by 2050.
The binding emissions reduction target was first proposed last year, and came after months of tough negotiations among member states. The existing target requires the EU to reduce net emissions by at least 55% by 2030; in May, the Commission said the bloc had already cut climate-warming emissions by 37%.
The new target will give certainty to investors, “strengthen industrial leadership of our businesses, and increase Europe’s energy security,” the commission said in a statement on Wednesday.
But not all member states are on board with the plan, and a controversial flexibility clause on buying carbon credits on international markets has activists crying foul.
‘Carbon credits is simply magical thinking’
Under the proposal, EU member states could purchase international carbon credits on green projects in third countries from 2036 onward, using them to offset up to 3% of the benchmark 1990 emissions.
“This can provide a safety-net to ensure a 90% target is achievable as we are closing on climate neutrality,” the commission said.
But climate activists have said the flexibility clause was included due to pressure from member states like France and Germany, along with major industry lobbyists, at the cost of reduced investments at home.
Mathieu Mal, a climate and agriculture expert at the European Environment Bureau, said the 3% flexibility clause was a “bad idea” for a variety of reasons.
“What this means is that the EU would be investing in other countries outside the bloc to reduce their emissions, and that’s problematic because we need these investments within the EU. We also have our sectors to decarbonize and we need funds for energy transformation here,” he said.
“Every country across the world needs to commit to climate action. If the EU counts these carbon credits towards its own goals, then what about the countries who also need to reduce their emissions and achieve their own targets?”
In May, the European Scientific Advisory Board on Climate Change advised against outsourcing part of the bloc’s climate efforts, saying it “risk[s] diverting resources from domestic investments and could undermine environmental integrity.” It called on all reduction toward net zero to be “achieved through domestic action.”
Critics of the clause have called it a ruse for heavy polluters who find it cost intensive to decarbonize in Europe and easier to invest in projects abroad that lack sufficient oversight.
“The use of carbon credits is simply magical thinking for a bloc unwilling to live up to its responsibility for causing the climate catastrophe we’re already living through,” said Friends of the Earth Europe. “Carbon credits have a long record of failure and ultimately do not stop Europe emitting more than its fair share of carbon emissions.”
Speaking with DW, Mal highlighted previous concerns about green investments in third nations. “There have been lots of issues in the past. Projects carried out in some countries often don’t have high standards, they often remain just on paper. There are questions if they were ever materialized,” he said.
Is 90% emissions reduction by 2040 too ambitious?
The Commission’s new target has the backing of at least some of the EU member states.
As Denmark takes over the EU’s rotating presidency this week, it has listed the 2040 target as one of its top priorities. “Anyone who says that the green transformation cannot be achieved with high ambition and social justice at the same time should come to Denmark,” said Villy Sövndal, a lawmaker with the European Greens group and Denmark’s former foreign minister.
“Competitiveness in the 21st century is not linked to fossil fuels but to the advancement of the energy transition,” Pedro Sanchez, Spain’s socialist prime minister, said last week at the EU summit in Brussels.
But other countries consider the 2040 target to be too ambitious. Italy has said an 80-85% target for 2040 would be more realistic, and the Czech Republic said Wednesday it disagreed with the commission’s proposal.
Speaking at the EU summit, French President Emmanuel Macron also indicated it was still too early to agree to setting the target for 2040. “The reality is that I want to get my 2030 target right first,” he said, “and take the democratic and political time to convince others to get to 2040.”
While Germany and France both back the 3% flexibility clause, France expects an even higher percentage of the overall goal to be met by purchasing international carbon credits, with some reports suggesting up to 10%.
85% of Europeans believe climate change is serious
According to Teresa Ribera, the EU’s green transition chief, some political groups in the EU continue to deny climate change whereas others lack courage in confronting their constituents about steps required to combat the problem.
“Political courage is needed to understand that there is a difficulty,” she said in an interview with The Guardian on Wednesday. “You need to face it with honesty.”
The EU’s climate plans have raised concerns around the costs of green transition and disruption to industrial growth and livelihood, if decarbonization is carried out without adequate support. However, Ribera believes there is no time to waste.
“Sorry, but it’ll be much more expensive if we don’t act,” she said.
A Eurobarometer survey released this week showed that 85% of Europeans believe climate change is a serious problem and tackling it should be a priority, while 77% agreed that the cost of damage due to climate change is much higher than the investment needed for a net-zero transition.
Source : https://www.dw.com/en/amid-severe-heat-wave-eu-pitches-flexible-2040-climate-goal/a-73125560
