Brussels: The Environment, Climate and Food Safety Committee has adopted its stance on the European Commission's proposal to amend the EU Climate Law, establishing a new, intermediate, and binding 2040 target to slash net greenhouse gas emissions by 90% compared to 1990 levels. Members of European Parliament (MEPs) believe that the green transition can enhance EU competitiveness, aligning with the Commission's proposal to introduce new flexibilities in achieving the targets.

According to Emirates News Agency, from 2036, up to 5 percentage points of net emissions reductions may come from high-quality international carbon credits from partner countries. However, MEPs demand assurances that these credits will be subject to stringent safeguards. The Commission initially proposed a cap of 3 percentage points.

The committee's resolution was passed with 55 votes in favor, 32 against, and no abstentions. A plenary session is scheduled for 13 November to vote on Parliament's position, after which negotiations with member states on the final law are expected to commence.