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.

Headlines

EU Commission proposes 2040 climate target with flexibilities

Published by Global Banking and Finance Review

Posted on July 2, 2025

Featured image for article about Headlines

BRUSSELS (Reuters) -The European Commission on Wednesday proposed that the EU reduce its net greenhouse gas emissions 90% by 2040, compared with 1990 levels, but included flexibilities to soften the emissions cuts for domestic industries.

The proposal said the European Union can buy carbon credits from developing countries and count these credits to meet 3 percentage points of the 2040 goal. This is a new approach - the EU's existing climate targets are based solely on domestic emissions cuts.

The proposal must be negotiated and approved by the European Parliament and a reinforced majority of EU countries.

(Reporting by Kate Abnett, editing by Bart Meijer)