The Japan Times - No deal yet on EU climate targets as COP30 looms

EUR -
AED 4.284399
AFN 76.996278
ALL 92.19793
AMD 423.971457
ANG 2.08799
AOA 1070.95317
ARS 1763.633923
AUD 1.625108
AWG 2.096992
AZN 1.986173
BAM 1.954763
BBD 2.347514
BDT 143.432068
BGN 1.979008
BHD 0.439459
BIF 3479.685649
BMD 1.166616
BND 1.4809
BOB 13.421937
BRL 6.005274
BSD 1.165542
BTN 111.161602
BWP 15.606186
BYN 3.516384
BYR 22865.676195
BZD 2.344216
CAD 1.616621
CDF 2658.14012
CHF 0.936682
CLF 0.027071
CLP 1065.435238
CNY 7.840069
CNH 7.840442
COP 3611.773549
CRC 528.79229
CUC 1.166616
CUP 30.915328
CVE 110.205593
CZK 24.066945
DJF 207.553885
DKK 7.475556
DOP 68.260279
DZD 155.180613
EGP 58.76922
ERN 17.499242
ETB 188.123903
FJD 2.557342
FKP 0.855941
GBP 0.855363
GEL 3.038986
GGP 0.855941
GHS 12.996883
GIP 0.855941
GMD 85.746049
GNF 10241.040618
GTQ 8.893206
GYD 243.871676
HKD 9.146825
HNL 31.262272
HRK 7.532955
HTG 152.476698
HUF 360.448199
IDR 20643.272462
ILS 3.475464
IMP 0.855941
INR 111.111028
IQD 1526.98342
IRR 1603630.535525
ISK 141.207794
JEP 0.855941
JMD 184.989181
JOD 0.827098
JPY 185.520548
KES 150.995217
KGS 102.020607
KHR 4717.012515
KMF 493.478676
KPW 1049.954862
KRW 1619.088296
KWD 0.35996
KYD 0.971381
KZT 533.724582
LAK 26161.673226
LBP 104377.856006
LKR 382.847062
LRD 211.555054
LSL 18.64407
LTL 3.444714
LVL 0.705674
LYD 7.379832
MAD 10.770932
MDL 20.141625
MGA 4988.182833
MKD 61.492379
MMK 2449.62645
MNT 4195.778538
MOP 9.410405
MRU 46.737405
MUR 54.562577
MVR 18.036076
MWK 2021.158514
MXN 19.763059
MYR 4.697733
MZN 74.552599
NAD 18.644629
NGN 1571.361804
NIO 42.896509
NOK 10.882324
NPR 177.851506
NZD 1.95799
OMR 0.448553
PAB 1.165687
PEN 3.911974
PGK 5.168214
PHP 71.780707
PKR 323.364274
PLN 4.302364
PYG 6986.874366
QAR 4.24911
RON 5.256076
RSD 117.286973
RUB 97.587922
RWF 1718.070781
SAR 4.380775
SBD 9.355532
SCR 16.123975
SDG 701.720174
SEK 11.035842
SGD 1.481217
SHP 0.864306
SLE 28.756801
SLL 24463.356086
SOS 666.100969
SRD 44.240435
STD 24146.598552
STN 24.485751
SVC 10.199546
SYP 15168.342844
SZL 18.642471
THB 38.12732
TJS 10.746961
TMT 4.094823
TND 3.396469
TOP 2.808932
TRY 56.13488
TTD 7.91863
TWD 37.163138
TZS 3091.530433
UAH 52.076689
UGX 4347.619137
USD 1.166616
UYU 46.854542
UZS 13727.717707
VES 914.256589
VND 30438.18151
VUV 138.012311
WST 3.168464
XAF 655.597978
XAG 0.016858
XAU 0.000251
XCD 3.152838
XCG 2.100777
XDR 0.824858
XOF 655.586745
XPF 119.331742
YER 276.601001
ZAR 18.574277
ZMK 10500.944966
ZMW 22.197893
ZWL 375.649919
  • RBGPF

    1.3300

    69.89

    +1.9%

  • CMSC

    0.1120

    21.34

    +0.52%

  • NGG

    0.7500

    81.17

    +0.92%

  • CMSD

    0.2000

    21.26

    +0.94%

  • BCC

    -1.2000

    81.04

    -1.48%

  • BCE

    -0.2600

    23.59

    -1.1%

  • RIO

    2.0100

    106.81

    +1.88%

  • BP

    -0.8800

    42.86

    -2.05%

  • BTI

    -0.2400

    56.47

    -0.43%

  • GSK

    0.2900

    52.07

    +0.56%

  • RELX

    -0.5100

    35.88

    -1.42%

  • RYCEF

    0.5500

    20.8

    +2.64%

  • VOD

    0.1500

    16.13

    +0.93%

  • AZN

    2.9500

    169.66

    +1.74%

  • JRI

    0.1100

    12.48

    +0.88%

No deal yet on EU climate targets as COP30 looms
No deal yet on EU climate targets as COP30 looms / Photo: Nicolas TUCAT - AFP

No deal yet on EU climate targets as COP30 looms

The European Union's member states have not yet reached an agreement on key emissions targets before the UN's COP30 summit in Brazil, and ministers will meet again on Wednesday to thrash out a deal, according to Brussels officials.

Text size:

EU countries have been haggling for months over two separate targets for slashing greenhouse-gas emissions: one for 2035 that they must bring to the UN climate talks, and the other for 2040.

But talks in Brussels ended on Tuesday without an accord, and a European Council spokesperson saying "the negotiations will continue all night".

"Ministers will reconvene tomorrow morning at approximately 9:00 am (0800 GMT)," the spokesperson told reporters.

EU officials have stressed the importance of the talks, which come ahead of the COP30 summit next week in Brazil.

French Environment Minister Monique Barbut had warned that turning up empty-handed to the summit would spell "disaster" for the EU.

Behind only China, the United States and India in terms of emissions, the EU has been the most committed of the major polluters to climate action and has already cut emissions by 37 percent compared to 1990 levels.

But after blazing a trail, the EU's political landscape has shifted right, and climate concerns have taken a backseat to defence and competitiveness -- with concerns in some capitals that greening Europe's economy is harming growth.

"It's very, very difficult," said an EU diplomat, summing up the state of play in Brussels late Tuesday.

Denmark, which holds the bloc's rotating presidency, was understood to be working hard to win over Italy, one of the countries most sceptical of the proposed targets.

The most urgent challenge for ministers is to reach a unanimous deal on an EU emissions target for 2035, known as a Nationally Determined Contribution (NDC), which Paris Agreement signatories are supposed to bring to the COP30.

"I want our heads of state and government to go to Brazil with a very strong mandate, a clear leadership role for Europe," German Environment Minister Carsten Schneider said.

The EU also hopes to lock in the support of a weighted majority of countries for the next big climate target set out by the European Commission on the path to carbon neutrality by 2050.

The EU executive said in July it wanted to cut emissions by 90 percent by 2040, compared to 1990 levels -- a major stride towards net zero.

But member states have yet to endorse that next step, which would require sweeping changes to industry and daily life at a time of growing concern over adverse impacts on Europe's economy.

Spain and the Nordic countries support the 2040 proposal, as does Germany, with some caveats. But Hungary, Poland, the Czech Republic and Italy remain opposed, citing risks to their industrial sectors.

Heavyweight France, meanwhile, has kept observers guessing on its position -- demanding guarantees its nuclear sector would not lose out under green transition plans and wiggle room on emissions should Europe's forests absorb less carbon than expected.

- 'Not pretty' -

To win over the staunchest sceptics, Tuesday's talks covered a range of "flexibilities" for member states, including letting countries count carbon credits purchased to finance projects outside Europe.

A commission pledge for credits to account for up to three percent of a nation's 2040 emission cuts failed to win over hardliners, with countries pushing for a higher threshold of five percent.

Some also want the overall objective reassessed every two years.

Environmental groups have accused countries of undermining the EU's climate ambitions with loopholes.

But a diplomat involved in the process defended the compromise shaping up in Brussels, while conceding it was "not necessarily pretty".

"In the muddy, messy, nasty real world out there, we are trying to achieve something good," said the diplomat, granted anonymity to discuss the sensitive deliberations.

The EU insists it remains committed to its role as global climate leader, having mobilised 31.7 billion euros ($36.4 billion) in public climate finance in 2024, making it the world's largest donor.

Y.Kato--JT