EU approves 90% emissions cut by 2040, boosts carbon credit use to 5%

The EU has approved a 90% emissions reduction target for 2040, allowing up to 5% use of international carbon credits under its climate policy. This decision, after intense negotiations, aims to boost global carbon markets and align with the Paris Agreement’s Article 6. The plan also sets a 66.25%-72.5% reduction range for 2035. While significant for climate ambition, the implementation involves strict criteria and potential flexibility, with some concerns about economic impacts and the actual extent of emissions cuts.
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