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Added on the 11/12/2020 09:41:00 - Copyright : Euronews EN
EU leaders on Friday agreed an ambitious target for cutting greenhouse gas emissions after unlocking the bloc's landmark budget and coronavirus recovery fund at a marathon summit. The 27 member states struck a deal on a binding target to slash emissions by at least 55 percent by 2030 following an entire night of intense wrangling in Brussels.
The EU ETS, which forces emitters to pay for each tonne of carbon dioxide they generate, is the keystone of an EU drive to cut net greenhouse gas emissions by 55% from 1990 levels by 2030.
The Biden administration on Thursday pledged at a US climate summit attended by world leaders to slash US greenhouse gas emissions in half by 2030, a target it hopes will spur other big countries to raise their ambition to combat global warming. The United States, the world’s second-leading emitter after China, seeks to reclaim global leadership in the fight against global warming after former President Donald Trump withdrew the country from international efforts to cut emissions. President Joe Biden unveiled the goal to cut emissions by 50%-52% from 2005 levels at the start of a two-day virtual climate summit attended virtually by leaders of 40 countries including China, Russia and India.
In the corridors of Brussels rumours are rife that the Commission is to announce a 55% emissions cut, up from the current 40% goal by 2030, but its not proving popular across the political spectrum.
President Obama signed an executive order that sets a goal for the U.S. government to cut its greenhouse gas emissions by 40 percent by 2025. Rough Cut (no reporter narration).
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