The European Union is nearly on track to reach its main climate target for this
decade, with countries’ existing CO2-cutting plans set to bring the bloc within one percenta
ge point of the goal, the European Commission said on Wednesday.
The EU is on course to re
duce its net greenhouse gas emissions by 54% by 2030, compared with 1990 lev
ls – just shy of its legally-binding goal of a 55% cut, the Commission said in an anal
ysis of existing policies in the EU and its member countries.
The analysis showed governments have upped their efforts to curb emi
ssions in the last two years
, even as Brussels faces a political backlash from some countries demanding the EU weaken its green agenda.
Europe is the world’s fastest-warming continent, with crop-wrecking flood
s and deadly wildfires linked to climate change hitting EU nations with increasing frequency.
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But with industries reeling from high energy prices after Russia slashed gas d
eliveries in 2022, and the pros
pect of U.S. tariffs, the EU faces mounting calls from governments to soften g
reen measures for struggling businesses.
EU climate commissioner Wopke Hoekstra said the EU would invest more in cl
ean technologies to ensure industries can prosper from Europe’s green transition.
“Emissions are down 37% since 1990, while the economy has grown nearly 70%, proving climate action and growth go hand i
n hand. Now we must build on this momentum,” Hoekstra said.
By 2023, the EU had reduced its emissions by 37% from 1990 levels, the latest available data show.
The Commission cited strong progress in the energy sector, with renewable sources covering 24% of EU energy consumption in 2023.