The European Parliament has approved a new interim climate target that obliges the European Union to reduce its net greenhouse gas emissions by 90% by 2040 compared to 1990 levels. The measure, part of the revision of the European Climate Law, strengthens the roadmap towards climate neutrality by 2050.

The political agreement reached with the Council was endorsed in plenary by 413 votes in favor, 226 against, and 12 abstentions. With this amendment, the 2040 target becomes legally binding for the entire EU, positioning itself as a key interim step between the 55% reduction target by 2030 and climate neutrality by mid-century.

The reform introduces various flexibility mechanisms to facilitate Member States' compliance with the target. From 2036, up to five percentage points of emissions reductions can be achieved through high-quality international carbon credits from partner countries, a margin higher than initially proposed by the European Commission. The text incorporates safeguards to prevent the financing of projects contrary to the Union's strategic interests.

It also contemplates the use of permanent carbon removals at the national level to offset emissions that are difficult to reduce within the Emissions Trading System (ETS), along with greater flexibility across sectors and instruments. The approach seeks to reconcile the green transition with industrial competitiveness and economic efficiency.

Another significant change is the postponement of the entry into force of ETS2, the EU's second emissions trading system, which is delayed from 2027 to 2028. This system will cover CO₂ emissions from fuel use in buildings and road transport, with direct implications for key sectors of energy and environmental management.

The European Commission will be required to assess progress towards the 2040 target every two years, taking into account the evolution of scientific data, technological developments, energy prices, and the economic and social impact on businesses and households. The level of net carbon removals needed to achieve the target will also be analyzed.

Following these assessments, the Commission may propose amendments to the Climate Law, either to adjust the 2040 target or to strengthen the support framework, in order to protect competitiveness, prosperity, and social cohesion in the Union.

Once the Council formally adopts the text, the revised European Climate Law will enter into force twenty days after its publication in the Official Journal of the European Union.