EU lawmaker committee gets behind new 2040 climate target

A committee of European Union lawmakers endorsed on Monday the EU's plan to cut net planet-warming emissions by 90% by 2040 and water down the

effort required by domestic industries by allowing them to use foreign carbon credits for 5% of the goal.



EU countries' climate ministers struck a final-hour deal on the legally-binding climate goal last week, just in time to avoid going empty-handed to the U.N.'s COP30 climate summit, which starts on Monday in Belem, Brazil.



The target would let countries buy foreign carbon credits to cover up to 5% of the 90% emissions-cutting goal - weakening to 85% the emissions cuts required from European industries.



A majority formed of centre-right, socialist and green lawmakers in the European Parliament's environment committee backed the deal on Monday, with 49 in favour, 33 against and 6 abstentions.