Ahead of Climate Summit, EU Reaches Provisional 'Agreement' on Climate Neutrality Legislation

[Asia Economy Reporter Naju-seok] The European Union (EU) has reached a provisional agreement on its goal to achieve 'carbon neutrality' ahead of the climate summit.

[Image source=Reuters Yonhap News]

According to foreign media on the 21st (local time), Ursula von der Leyen, President of the EU Commission, stated, "Our political commitment to make Europe the first climate-neutral continent by 2050 has now become a legal commitment," adding, "The climate law will put the EU on a green path for a generation."

According to the provisionally agreed law, the 27 EU member states have agreed to reduce carbon emissions to 55% of 1990 levels by 2030. Previously, the EU had set a target to reduce carbon emissions by 40% compared to 1990 levels by 2030, so this standard has been strengthened.

Climate neutrality has a similar meaning to carbon neutrality, referring to offsetting carbon emissions that cause global warming through renewable energy development and other means to achieve a net zero carbon emission.

However, the Green Party has analyzed that there are many accounting tricks in this agreement, and the actual carbon emissions reduction may fall short of the 55% target. The final agreement must be ratified by the governments and parliaments of each country.

U.S. President Joe Biden is expected to present a plan to reduce the United States' greenhouse gas emissions by half by 2030 at the climate summit held virtually on the 22nd and 23rd. President Biden has actively addressed environmental issues, issuing an executive order to rejoin the Paris Climate Agreement on his first day in office.

Scientists have voiced that to limit global warming to 1.5 degrees Celsius compared to pre-industrial levels, carbon emissions worldwide must be drastically reduced.