Climate target for 2040. And the path toward climate neutrality by 2050.

The Official Journal of the European Union has published a communication from the European Economic and Social Committee (EESC) to the European Parliament and the European Council titled “The European Union: Securing our future. The 2040 climate target. And the path toward climate neutrality by 2050. As foundations for a sustainable, equitable and prosperous society , which is the next step in the European Commission’s preparation of a legislative proposal for a 2040 climate target.

Climate target for 2040. in the opinion of the EESC

About the work so far on the European Commission’s legislative proposal for the 2040 climate target. We wrote in a previous article: What will the EU’s 2040 climate target be?

The EESC supports the recommended climate target of a 90 percent reduction in greenhouse gas emissions by 2040, while pointing out that it is ambitious and can only be achieved if supportive policies are in place to ensure the competitiveness of European industry and a fair transition, as well as, in a cost-effective manner, all zero- and low-emission technologies.

Climate target for 2040. is based on successfully achieving a net emissions reduction of at least 55 percent. By 2030. The EESC stresses that the focus should be on implementing the Ready for 55 package and helping European businesses and households adapt to the new regulatory environment. In the EESC’s view, climate targets require unprecedented investment in decarbonization. The 2040 target should be accompanied by a drive to build a strong economy through transformation, increase European energy security and secure high-quality jobs.

To increase the global impact of Europe’s clean transformation and capitalize on the benefits of climate leadership, the Committee urges the European Commission to track the growth of European cleantech exports and services, and to set targets in this area.

How was the 2040 climate target set?

The European Union has set legally binding targets to reduce emissions by at least 55 percent. By 2030. and climate neutrality by 2050. The European climate law requires the Commission to propose a 2040 target as a mid-term action. The European Commission’s communication proposes an emissions reduction target of 90 percent. The communication and accompanying impact assessment include three possible options: option 1 – a linear path of 80 percent reduction; option 2 – 85-90 percent reduction; option 3 – 90-95 percent reduction.

The European Scientific Advisory Board on Climate Change (ESABCC) in a June 2023 report. recommended an emissions reduction target of 90-95 percent. By 2040. The European Commission’s proposed 2040 climate target. is in line with the target range suggested by ESABCC, which also received the most support in the public consultation conducted by the European Commission in 2023. The communication presented by the EESC is a starting point for dialogue on the 2040 target. and ways to achieve it. As envisioned, the European Commission will prepare a legislative proposal for the 2040 target in its new term. and the necessary policy framework to achieve it.

The 2040 climate target. and its global context

The 2023 UN climate conference COP28 called on parties to move away from all fossil fuels, contribute to tripling renewable energy production and doubling the resources invested in energy efficiency by 2030, and accelerate the deployment of clean technologies. The EESC stresses that the 2040 climate target and the corresponding 2035 target must be consistent with the commitments made by all parties at COP28 and must be adopted without delay.

The EESC notes that Europe’s share of global emissions currently stands at 7 percent and is declining as the EU moves toward achieving climate neutrality in 2050, but at the same time Europe is historically one of the largest emitters. Since 1990, the EU has managed to reduce emissions from its territory by 32 percent and was the first among major economies to decouple economic growth from greenhouse gas emissions.

How to achieve the 2040 climate target?

The 2040 climate target. must be accompanied by enabling strategies, such as a focus on a just transition and Europe’s industrial competitiveness.

The EESC welcomes the inclusion of all zero- and low-carbon technologies in the communication. According to the IEA, most of the innovations needed to accelerate climate action by 2030. is already available on the market, but achieving climate neutrality by 2050. will require the deployment of technologies that are still in development.

Achieving the ambitious 2040 target will therefore depend both on the mass deployment of existing cost-effective, proven and proven technologies, such as renewable energy, heat pumps and electric vehicles, and on the development and expansion of emerging technologies, such as advanced biofuels, renewable and low-carbon hydrogen, batteries, synthetic fuels and materials, small and modular nuclear reactors, and ways to capture, recycle and store carbon dioxide, particularly in sectors where emissions are difficult to reduce.

The EESC notes that the EU’s climate goals require unprecedented investment in the decarbonization of existing industrial processes and transportation, as well as in the production of carbon-neutral technologies and materials, and in the clean energy and clean heat that will make these processes possible. In the EESC’s view, the transition to a green economy on the way to achieving the 2040 climate goal will require a workforce trained in new technologies and sustainable practices.