The European Commission is mapping out the route to the to achieve the target of making the European Union climate neutral by 2050. It commands one net greenhouse gas emissions reduction of 90% by 2040 compared to 1990 levels, which is in line with recent scientific advice and the EU's obligations under the Paris Agreement.
To achieve the reduction target of 90% in 2040, the following actions are necessary:
- fully implement existing EU laws to reduce emissions by at least 2030% by 55
- decarbonize the industry by relying on existing strengths such as wind energy, hydropower and electrolysers. To step up this area of work, the Commission has proposed new measures to control CO2 emissions from EU industry, investing in technologies that can capture, store and reuse carbon.
- increase domestic production in growth sectors such as batteries, electric vehicles, heat pumps, solar cells and others
- fairness, solidarity and social policy central to the transition, and help vulnerable citizens, regions, companies and workers through instruments such as the Social Climate Fund and the Just Transition Fund
- an open dialogue with all stakeholders, including farmers, companies, social partners and citizens
Over the past five years, climate change has caused an estimated 170 billion euros in economic damage. The costs and consequences for humans are becoming greater and more visible. We must act now to strengthen Europe's resilience against future crises and reduce its dependence on fossil fuel imports. A 2040 climate target will also help European industry, investors, citizens and governments make decisions this decade that will keep the EU on track to achieve its 2050 climate neutrality target.
The target will now be discussed with the European Parliament and the Member States. The next Commission will submit legislative proposals on that basis. The European Climate Law translates into law the goal of the European Green Deal for the European economy and society to become climate neutral by 2050. The law sets an interim goal of reducing net greenhouse gas emissions by at least 2030% by 55, compared to 1990 levels.
European elections are scheduled for June, which will lead to the election of a new Commission. In light of recent national election results, which elected parties against ambitious climate policies, it is unclear what this new composition of the Commission will look like. As a result, it remains uncertain whether the 2040 reduction target will ultimately be maintained.
European Commission
