The European Parliament passes the 2040 climate target, significantly reducing carbon emissions
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The European Parliament passed the 2040 climate target with 413 votes in favor and 226 against, planning to reduce greenhouse gas emissions by 90% compared to 1990 levels. Despite concerns from countries like Italy, the final text allows for 5% of the reduction to be accounted for through the purchase of carbon credits. The agreement also postponed the carbon trading system for road transport and building heating until 2028. The EU has the highest investment in climate action among major emitting countries globally, having reduced carbon emissions by 37% in 2023, and continues to urge international partners to strengthen climate action
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