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BRUSSELS: The European Commission is set to propose counting carbon credits bought from other countries toward the European Union’s 2040 climate target, a Commission document seen by Reuters showed.
The Commission is due to propose a legally binding EU climate target for 2040 on July 2.
The EU executive had initially planned a 90 percent net emissions cut, against 1990 levels, but in recent months has sought to make this goal more flexible, in response to pushback from governments including Italy, Poland and the Czech Republic, concerned about the cost.
An internal Commission summary of the upcoming proposal, seen by Reuters, said the EU would be able to use “high-quality international credits” from a UN-backed carbon credits market to meet 3 percent of the emissions cuts toward the 2040 goal.
The document said the credits would be phased in from 2036, and that additional EU legislation would later set out the origin and quality criteria that the credits must meet, and details of how they would be purchased.
The move would in effect ease the emissions cuts — and the investments required — from European industries needed to hit the 90 percent emissions-cutting target. For the share of the target met by credits, the EU would buy “credits” from projects that reduce CO2 emissions abroad — for example, forest restoration in Brazil — rather than reducing emissions in Europe.
Proponents say these credits are a crucial way to raise funds for CO2-cutting projects in developing nations. But recent scandals have shown some credit-generating projects did not deliver the climate benefits they claimed.
The document said the Commission will add other flexibilities to the 90 percent target, as Brussels attempts to contain resistance from governments struggling to fund the green transition alongside priorities including defense, and industries who say ambitious environmental regulations hurt their competitiveness.
These include integrating credits from projects that remove CO2 from the atmosphere into the EU’s carbon market so that European industries can buy these credits to offset some of their own emissions, the document said.
The draft would also give countries more flexibility on which sectors in their economy do the heavy lifting to meet the 2040 goal, “to support the achievement of targets in a cost-effective way.”
A Commission spokesperson declined to comment on the upcoming proposal, which could still change before it is published next week.
EU countries and the European Parliament must negotiate the final target and could amend what the Commission proposes.

GLASTONBURY: British police said they were considering whether to launch an investigation after performers at Glastonbury Festival made anti-Israel comments during their shows.
“We are aware of the comments made by acts on the West Holts Stage at Glastonbury Festival this afternoon,” Avon and Somerset Police, in western England, said on X late on Saturday.
Irish hip-hop group Kneecap and punk duo Bob Vylan made anti-Israeli chants in separate shows on the West Holts stage on Saturday. One of the members of Bob Vylan chanted “Death, death, to the IDF” in a reference to the Israel Defense Forces.
“Video evidence will be assessed by officers to determine whether any offenses may have been committed that would require a criminal investigation,” the police statement said.
The Israeli Embassy in Britain said it was “deeply disturbed by the inflammatory and hateful rhetoric expressed on stage at the Glastonbury Festival.”
Prime Minister Keir Starmer said earlier this month it was “not appropriate” for Kneecap to appear at Glastonbury.
The band’s frontman Liam Óg Ó hAnnaidh was charged with a terrorism offense last month for allegedly displaying a flag in support of Iran-backed militant group Hezbollah at a concert in November. He has denied the charge.
A British government minister said it was appalling that the anti-Israel chants had been made at Glastonbury, and that the festival’s organizers and the BBC broadcaster — which is showing the event — had questions to answer.
Health Secretary Wes Streeting said he was also appalled by violence committed by Israeli settlers in the occupied West Bank.
“I’d also say to the Israeli Embassy, get your own house in order in terms of the conduct of your own citizens and the settlers in the West Bank,” Streeting told Sky News.
“I wish they’d take the violence of their own citizens toward Palestinians more seriously,” he said.