The European Union’s 2040 climate target aims to reduce greenhouse gas emissions by 90% compared to 1990 levels, setting a clear path to climate neutrality by 2050. Achieving this will require full implementation of the 2030 goals and alignment of policies with fossil fuel phase-out, while ensuring a just transition. The EU emphasises the potential for innovation, job creation, and leadership in clean technology as part of this ambitious climate strategy.
by Theodora De Pasquale
In February 2024, the European Commission recommended reducing the EU’s greenhouse gas emissions by 90% by 2040 compared to 1990 levels. This goal is part of a series of ambitious climate targets aimed at reaching climate neutrality by 2050 [1]. In fact, in a shorter time frame, the EU already committed to reduce its net greenhouse gas emissions by at least 55% by 2030 [2].
The ambitious objectives of the EU
This intermediate 2040 objective is designed to maintain momentum and provide a clear trajectory between the 2030 milestone and the ultimate aim of achieving climate neutrality by 2050. To achieve this reduction by 90%, the EU aims to [1]:
- Chart a clear path to climate neutrality by 2050, fostering a more sustainable and secure future for European citizens.
- Provide long-term clarity for individuals, companies, and investors by aligning current and future investments with the EU’s climate goals, preventing misallocation of resources in outdated fossil fuel technologies.
- Enhance European industrial competitiveness, generate enduring employment opportunities, and position the EU as a global leader in clean technology innovation.
- Strengthen Europe’s resilience to external shocks and bolster its strategic independence by reducing reliance on fossil fuel imports and promoting domestic clean energy solutions.
The decision-making process in the EU
The European Commission conducted a public consultation, which took place from March 31 to June 23 2023, to seek perspectives from citizens and various stakeholders on these climate objectives [3].
This participatory approach was complemented and combined with a thorough scientific evaluation, which included:
- A detailed impact assessment conducted by the Commission itself, examining the economic, social and environmental implications of the target scenarios [4].
- The advice from experts of the European Scientific Advisory Board on Climate Change, an independent body tasked with providing scientific guidance on EU climate policies [5].
Scientific evaluations guiding the EU climate strategy
The impact assessment of the European Commission demonstrates its commitment to leading the global expansion of cleantech manufacturing and capitalising on opportunities for economic growth and job creation. The reduction by 90% of the greenhouse gas emissions aims at signalling to the world that Europe remains fully committed to the Paris Agreement and multilateral action [4].
The conditions that have to be met for the achievement of these targets include:
- Full implementation of the 2030 framework
- Ensuring European industry and agriculture remain competitive
- Measures for a just transition
- Engagement in a strategic dialogue with stakeholders on the post-2030 framework
The report “Towards EU climate neutrality: progress, policy gaps and opportunities” by the European Scientific Advisory Board on Climate Change provides an assessment of the EU’s progress towards its climate objectives, including [5]:
- A call for intensifying the efforts in all sectors, particularly buildings, transport, agriculture and forestry, to meet the targets
- Affirmation of the recommendation for a 90-95% reduction of greenhouse gas emissions by 2040 compared to 1990 levels
- Urge Member states to implement their national energy and climate plans to reduce the emissions by 55% by 2030.
- Call for aligning EU policies with fossil fuel phase-out goals, strengthening emissions trading systems and introducing measures to reduce demand for energy-intensive products
- Recommendations for better aligning agricultural policy with climate ambitions and introducing emissions pricing in these sectors by 2030.
- Assessing socio-economic impacts of climate measures and implementing targeted support for vulnerable groups
- Eliminate harmful fossil fuel subsidies, which have remained at around 50 billion euros annually
In conclusion, the European Union’s 2040 climate target marks a pivotal moment in its journey towards the implementation of a sustainable future. The EU is in fact setting a clear, ambitious path between its 2030 goals and the objective of climate neutrality by 2050. This demonstrates the position of Europe as a global leader in the ecological transition. This requires transformative changes across all sectors, but also offers unprecedented opportunities for innovation, job creation, and energy efficiency and security.
References:
[1] 2040 Climate Target, 2024, European Commission https://climate.ec.europa.eu/eu-action/climate-strategies-targets/2040-climate-target_en#:~:text=The%20Commission%20recommended%20reducing%20the,reaches%20climate%20neutrality%20by%202050, accessed on 7th Oct. 2024.
[2] EU2040 climate target: Opening statements by Wopke HOEKSTRA, European Commissioner for Climate Action, 2024, European Parliament https://multimedia.europarl.europa.eu/en/video/eu2040-climate-target-opening-statements-by-wopke-hoekstra-european-commissioner-for-climate-action_I252238, accessed on 7th Oct. 2024.
[3] EU climate target, 2023, European Commission https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13793-EU-climate-target-for-2040/public-consultation_en, accessed on 7th Oct. 2024.
[4] Commission staff working document impact assessment report part 1, 2024, European Commission https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52024SC0063, accessed on 7th Oct. 2024.
[5] EU climate Advisory Board: focus on immediate implementation and continued action to achieve EU climate goals, 2024, European Scientific Advisory Board on Climate Change https://climate-advisory-board.europa.eu/news/eu-climate-advisory-board-focus-on-immediate-implementation-and-continued-action-to-achieve-eu-climate-goals, accessed on 7th Oct. 2024.