BRUSSELS

The European Parliament on Thursday adopted its position on the EU's new climate target, calling for a 90% reduction in greenhouse gas emissions by 2040 compared to 1990 levels, as part of efforts to achieve a climate-neutral bloc by 2050.

In a statement, lawmakers adopted the European Commission's proposal to amend the EU Climate Law by setting a binding intermediate 2040 target, while stressing that the green transition should go hand in hand with boosting EU competitiveness.

The lawmakers said they "therefore agree with the Commission's proposal to introduce new flexibilities in how these targets can be met," including allowing up to five percentage points of reductions to come from high-quality international carbon credits starting from 2036.

They also backed the use of domestic permanent carbon removals to offset hard-to-abate emissions within the EU's Emissions Trading System (ETS), alongside enhanced flexibility across sectors to achieve cost-effective reductions.

Additionally, lawmakers agreed with member states' proposal to delay the launch of the ETS2, covering CO2 emissions from buildings and road transport, by one year to 2028.

The parliament called on the commission to review progress toward the 2040 target every two years, assessing scientific data, technological advances, and the EU's competitiveness. The review could lead to adjustments in the target or new measures to strengthen the framework for achieving it.

The text passed with 379 votes in favor, 248 against, and 10 abstentions. The parliament is now set to begin negotiations with member states on the final version of the law.

The European Climate Law already enshrines the goal of making the EU climate neutral by 2050 and mandates a 55% emissions reduction by 2030.