The EU Commission on Wednesday presented its proposal for a new 2040 climate target, one of the biggest tasks during Denmark’s six-month EU presidency. The proposal suggests a 90 percent reduction in greenhouse gases by 2040 compared to 1990 emissions.

EU Commissioner for Energy Dan Jørgensen emphasized the crucial role of the 2040 target in achieving climate neutrality by 2050, stressing the urgency to act in the face of increasing heat records. He also highlighted the benefits for the climate and the predictability for green investments.

However, Kira Marie Peter-Hansen from SF (Socialist People’s Party) expressed concerns about securing a majority in the EU Parliament for the 2040 climate target. She cautioned against setting a target below 90 percent or relying on carbon credits, viewing them as detrimental to genuine emission reductions. SF advocates for a reduction between 90 and 95 percent.

A key debate revolves around allowing countries to use carbon credits from investments in third-country projects to offset their emissions. Proponents argue this allows countries to compensate for their consumption, while critics argue it complicates emission measurement and accountability. Peter-Hansen warns that carbon credits could undermine climate policy.

Niels Flemming Hansen from the Conservative People’s Party, representing the EPP, supports the 90 percent target. He emphasizes the need for realistic and adapted solutions, including considering carbon credits, due to resistance from countries like Poland and France. He argues that carbon credits may be necessary to achieve the target.

Following the EU Commission’s proposal, the target must be adopted by the EU Parliament and the EU Council of Ministers under the Danish presidency.