EU strikes deal on climate target to cut emissions by 90% by 2040

December 10, 2025 3:31 PM

EU strikes deal on climate target to cut emissions by 90% by 2040

The European Union agreed on Wednesday to set a legally binding climate target to reduce greenhouse gas emissions by 90% from 1990 levels by 2040, and buy foreign carbon credits to cover 5% of the emissions cuts, goals that fell short of its original plan. Negotiators from EU countries and the European Parliament reached the deal in the early hours of Wednesday, they confirmed in separate statements. In practice, the target will require an 85% emissions reduction from European industries, and ...

Latest U.N. analysis shows climate pledges cutting emissions by 12%

November 11, 2025 3:34 PM

Latest U.N. analysis shows climate pledges cutting emissions by 12%

The yearly amount of planet-warming gases added to the atmosphere will decrease 12% by 2035 from 2019 levels, according to a new analysis published Monday by the U.N. climate change secretariat (UNFCCC). The revised figure represents progress from the expected 10% reduction announced on October 28, and takes into account pledges made since the cutoff for the previous analysis. Nevertheless, the projected 12% cut is far short of the 60% emissions drop needed by 2035 to limit global warming at 1...

India advances carbon pricing reforms to meet climate goals

June 23, 2025 5:23 PM

India advances carbon pricing reforms to meet climate goals

India is moving steadily towards establishing a comprehensive carbon pricing ecosystem aimed at meeting its climate and development commitments. With the formal adoption of the Carbon Credit Trading Scheme (CCTS) in July 2024 and increasing alignment with global carbon markets, the country is setting the stage for a structured, rate-based Emissions Trading System (ETS). According to the World Bank’s State and Trends of Carbon Pricing 2025 report, India has emerged as a notable player among em...