European Union countries’ climate ministers approved on Wednesday a 2040 climate change target to cut emissions by 90 per cent, but with flexibilities to weaken this aim.
In a public vote, ministers approved the target, which would let countries buy foreign carbon credits to cover up to 5 per cent of the 90 per cent emissions-cutting goal, said Danish climate minister Lars Aagaard, who chaired the talks.
That would effectively weaken to 85 per cent the emissions cuts required from European industries.
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The EU also agreed to consider the option, in future, to use international carbon credits to meet a further 5 per cent of the 2040 emissions reductions, Mr Aagaard said – potentially shaving another 5 per cent off their domestic target. – Reuters