BRUSSELS: After an all-night negotiating session, EU leaders agreed on Friday morning to cut net carbon emissions by 55% in the next decade from levels measured in 1990, overcoming the concerns of nations still heavily dependent on coal and taking a critical step in the effort to become climate-neutral by 2050.
After an agreement on a $2.2 trillion budget on Thursday evening — with billions earmarked for member states to spend on the transition to a greener economy — momentum for a consensus environmental policy gathered speed.
Shortly after dawn, Charles Michel, the head of the group of the EU leaders, announced the news on Twitter. “Europe is the leader in the fight against climate change,” he wrote. “We decided to cut our greenhouse gas emissions of at least 55% by 2030.” The decision comes just in time for the UN climate summit on Saturday.
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