EU’s 2040 target lets big polluters off the hook
The European Union possesses both the resources and the capacity to fully abandon fossil fuels by 2040. Despite this, EU environment ministers have endorsed a climate goal that lacks ambition and shifts part of the responsibility for emission reductions onto the Global South and future generations.
Weak commitments at COP30
At the COP30 climate summit, several countries slowing down climate efforts are expected to use carbon markets to ease their own obligations. However, these markets cannot replace genuine emissions reductions or proper climate financing.
Policy shifts and new mechanisms
Responding to pressure from national governments, the European Commission has proposed modifications to the Market Stability Reserve to better regulate the system. At the same time, fears that the Carbon Border Adjustment Mechanism (CBAM) would harm trade appear unfounded.
CBAM as a diplomatic tool
A new simulation indicates that CBAM may in fact become a strong diplomatic instrument, encouraging Asian economies to decarbonize their industries rather than hindering trade relations.
Ignoring scientific counsel
Instead of listening to its own technical experts and scientific evidence, the body overseeing the UN carbon crediting mechanism has chosen to side with market players after intense lobbying efforts.
Author’s summary
The EU’s 2040 climate target reflects political caution, spreading its responsibilities unevenly while missing a key opportunity for global climate leadership.