European environment ministers backed on Wednesday a watered-down revision of the EU's climate law after the inclusion of several flexibilities meant to help member states cut 90% of greenhouse gas (GHG) emissions by 2040.
The revised legislation is a compromise that the Danish Presidency, which is helming the EU27 bloc, felt necessary to close the deal.
“We’ve listened and worked with all parties around the table that brought us to a very good compromise," Climate Action European Commissioner Wopke Hoekstra told reporters.
"We have agreed to a legally binding headline 2040 target of -90%, with a domestic target of 85% and up to 5% international credits. We have reaffirmed the flexibilities we have put on the table,” he explained.
Ministers agreed to a higher volume of polluting credits for industries to ease their path toward climate-neutrality by 2040, after a political deadlock and lengthy talks on Tuesday evening that only saw a forged deal on Wednesday morning.
The impasse threatened the bloc's ability to agree on a binding climate goal, seen by many as a massive impediment to the European industry's ability to prosper.
The deal struck settled polluting c
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