Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > EU set to miss U.N. deadline for new climate targets, draft shows
    Headlines

    EU set to miss U.N. deadline for new climate targets, draft shows

    EU set to miss U.N. deadline for new climate targets, draft shows

    Published by Global Banking and Finance Review

    Posted on September 15, 2025

    Featured image for article about Headlines

    By Kate Abnett and Virginia Furness

    BRUSSELS (Reuters) -The European Union does not expect to reach an agreement on its new U.N.-mandated climate target in time for a key deadline this month, and has instead drafted plans to submit a temporary goal, which could change later, an EU negotiating document seen by Reuters showed.

    EU countries are struggling to reach a deal on their new climate target for 2040, which has derailed plans for the bloc to submit a 2035 target to the United Nations by a deadline this month for all countries to do so. The EU had planned to derive its 2035 climate target from the 2040 goal.

    The draft EU document, seen by Reuters, showed the bloc is now instead considering submitting a "statement of intent" to the U.N. about what its 2035 goal will be - indicating it will be between a 66.3% and a 72.5% emissions reduction by 2035, from 1990 levels.

    The EU will decide its final 2035 target later, after it reaches a deal on its 2040 climate goal, the document said. EU countries' ambassadors will on Tuesday discuss the draft, which could still change during the negotiations.

    The move aims to avoid the EU being empty-handed at the U.N. general assembly next week, where U.N. Secretary-General Antonio Guterres has asked countries to announce their climate targets, to drum up momentum for the global COP30 climate negotiations in November. 

    But it leaves open the question of how ambitious the EU's final target will be - and increases the likelihood that the EU will lag behind other major emitters, including China, in setting its new climate goal.

    Manon Dufour, an executive director at think tank E3G, said the plan could allow the EU to agree on a more ambitious target later, ahead of COP30 - but that it raised questions about EU leadership on climate change.

    "It does very little to dispel doubts about the EU's domestic transition, or galvanise global partners ahead of the UN General Assembly, in such a critical year for global climate action," she said. 

    The higher end of the target range reflects a pathway towards a 90% emissions reduction by 2040 - which is what EU countries are negotiating as their 2040 climate goal, the document said.

    The lower end is calculated by drawing a straight line between the EU's existing 2030 and 2050 climate goals. 

    Countries including Poland have backed a range starting at the lower end, while countries including Spain and Denmark want a more ambitious goal, EU diplomats said.

    Denmark, which holds the rotating EU presidency, drafted the document. It declined to comment.

    (Reporting by Kate Abnett in Brussels and Virginia Furness in London; Editing by Matthew Lewis)

    Related Posts
    Czech defence group CSG wins $1 billion truck deal, opens Slovak ammunition line
    Czech defence group CSG wins $1 billion truck deal, opens Slovak ammunition line
    EU races to win over Italy on Mercosur trade deal, says EU lawmaker
    EU races to win over Italy on Mercosur trade deal, says EU lawmaker
    Zelenskiy says Russia must be held responsible for 'crime of aggression'
    Zelenskiy says Russia must be held responsible for 'crime of aggression'
    BBC says it will fight Trump lawsuit over edited speech
    BBC says it will fight Trump lawsuit over edited speech
    Kremlin says Christmas ceasefire proposed by Ukraine depends on reaching peace deal
    Kremlin says Christmas ceasefire proposed by Ukraine depends on reaching peace deal
    Dassault Aviation CEO unsure if FCAS fighter will go ahead
    Dassault Aviation CEO unsure if FCAS fighter will go ahead
    Europe's leaders and laggards in electric vehicle sales
    Europe's leaders and laggards in electric vehicle sales
    EU members bordering Russia push for enhanced security at Helsinki meeting
    EU members bordering Russia push for enhanced security at Helsinki meeting
    Netherlands will host International Claims Commission for Ukraine, minister says
    Netherlands will host International Claims Commission for Ukraine, minister says
    EU to widen carbon border levy to close loopholes on polluting goods, draft shows
    EU to widen carbon border levy to close loopholes on polluting goods, draft shows
    Plan to build church for war dead in city park sparks rare protest in Russia
    Plan to build church for war dead in city park sparks rare protest in Russia
    Polish student detained over suspected Christmas market attack plot
    Polish student detained over suspected Christmas market attack plot

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Headlines

    Explore more articles in the Headlines category

    China lowers EU pork tariffs in final ruling after 18-month probe

    China lowers EU pork tariffs in final ruling after 18-month probe

    European defence stocks slide amid progress in Ukraine peace talks

    European defence stocks slide amid progress in Ukraine peace talks

    App developers urge EU action on Apple fee practices

    App developers urge EU action on Apple fee practices

    Kering sells majority stake in New York property in $900 million deal 

    Kering sells majority stake in New York property in $900 million deal 

    EU weighs scheme to allow combustion-engine vehicles after 2035, Handelsblatt reports

    EU weighs scheme to allow combustion-engine vehicles after 2035, Handelsblatt reports

    Antisemitism allowed to fester in Australia, says daughter of wounded Holocaust survivor

    Antisemitism allowed to fester in Australia, says daughter of wounded Holocaust survivor

    Human‑wave attacks and drones: How Myanmar's junta is fighting back

    Human‑wave attacks and drones: How Myanmar's junta is fighting back

    EU to yield on combustion engines ban after automaker pressure

    EU to yield on combustion engines ban after automaker pressure

    US suspends technology deal with Britain, FT reports

    US suspends technology deal with Britain, FT reports

    Taiwan's global credibility on the line with disputed laws, president says

    Taiwan's global credibility on the line with disputed laws, president says

    Trump seeks up to $10 billion in damages from BBC over editing of January 6 speech

    Trump seeks up to $10 billion in damages from BBC over editing of January 6 speech

    Europe to launch international commission for Ukraine war damages

    Europe to launch international commission for Ukraine war damages

    View All Headlines Posts
    Previous Headlines PostTrump says he was not informed by Netanyahu before Israel's strike in Qatar
    Next Headlines PostBessent says US won't hit China with tariffs over Russian oil unless Europe goes first