The European Union has set a new, legally binding climate goal: to cut greenhouse gas emissions by ninety percent by the year two thousand forty, compared to nineteen ninety levels. This ambitious target includes a plan to purchase foreign carbon credits to cover five percent of these emission reductions. The European Parliament announced that this agreement will require EU industries to reduce their emissions by eighty-five percent, with EU nations paying non-member countries to cut emissions on their behalf starting in two thousand thirty-six. This new target goes beyond the emission-cutting pledges of most other major global economies but falls short of what the EUs own climate science advisors recommended. The agreement represents a political compromise after months of negotiations, with countries like Poland, Slovakia, and Hungary opposing deeper carbon dioxide cuts due to concerns about the strain on their domestic industries. The EU also made concessions on other climate policies, such as delaying the start of a carbon price for fuel by one year.

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