EU Leaders Strive for Climate Deal Amidst Green Pushback

European Union leaders aim to finalize a 2040 emissions target to cut net greenhouse gas emissions by 90%. The initiative faces resistance from some member states due to financial and geopolitical concerns. Talks focus on securing funding and policies to make the transition sustainable for businesses and citizens.

European Union leaders are working to solidify a 2040 emissions target ahead of global climate discussions. Despite opposition from some member states over financial constraints, the EU aims for a 90% reduction in net greenhouse emissions.

The proposed 2040 target, deemed necessary to meet the EU's 2050 net-zero ambitions, encounters resistance due to budgetary concerns tied to defense and economic revitalization. German Chancellor Friedrich Merz emphasizes balancing climate goals with industrial competitiveness.

Talks focus on critical financial support to prevent surging energy costs and support businesses. Draft conclusions suggest leaders will adopt the emissions target, potentially revisiting it later, with discussions scheduled in alignment with the U.N.'s COP30 summit.

(With inputs from agencies.)