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policy instrument · 2040
EU 2040 Climate Target with International Carbon Credits Amendment
Jurisdiction countryEU
Instrument typemandate-target
Authoritygovernment
Scopecarbon removal and point-source capture
Statusproposed
DetailProposed amendment to EU climate law setting legally binding target to cut net greenhouse gas emissions by 90% by 2040 compared to 1990 levels. Framework includes: (1) domestic 'permanent' removals (long-lasting carbon removal methods within EU); (2) from 2036, limited offsetting of EU emissions up to 3% of 1990 EU levels by purchasing international carbon credits under Article 6 of Paris Agreemen
Monetary notePotential cost €10 billion or more at €30 per credit for 300-400 million cumulative credits by 2040; up to 3% of 1990 EU emissions (~460 million tonnes CO2e) eligible for international credit offsetting from 2036
Stated statusproposed
Pathway scopeall-cdr
Pathway notetargets 'domestic permanent removals' broadly and international credits under Article 6 without naming specific pathways
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