EU leaders raise climate target to 55pc

EU leaders have struck a deal on a binding target to slash emissions by at least 55 per cent by 2030.

European Council President Charles Michel. Picture: AFP

EU leaders have struck a deal on a binding target to slash emissions by at least 55 per cent by 2030 following an entire night of intense wrangling in Brussels.

The fight was over how the cost of the effort should be shared across the 27-member countries. Highly dependent on coal, Poland fears serious economic consequences and ­demanded details on the aid it would receive.

“Europe is the leader in the fight against climate change,” European Council president Charles Michel said. French President Emmanuel Macron tweeted an appeal for action now the target was agreed, insisting: “Let’s do everything to succeed.”

As part of its commitments to the Paris Climate Agreement, the EU has pledged to become climate-neutral by 2050, the date when it would offset or capture more greenhouse gas than it emits. However, the current interim target for 2030 — a 40 per cent reduction in emissions compared to 1990 — is not now seen as sufficient to achieve this.

The new climate goals are backed by France and Germany, as well as many major businesses keen to access European funding to kickstart a recovery through what Brussels has taken to calling a green new deal.

AFP