EU leaders agreed on Friday to set an ambitious target to cut greenhouse gas emissions by 55% compared to 1990 levels by 2030. The deal came after more than 10 hours of negotiations late Thursday into Friday morning. The increase from an earlier reduction target of 40% was proposed by the European Commission in September, but was met with resistance in some EU states. EU greenhouse gas emissions dropped by 24% between 1990 and 2019, according to the Commission. The economy, meanwhile, grew around 60% during the same period. The new plan will require major overhauls of the energy and transport sectors as well as a huge push to renovate and retrofit buildings to make them energy-efficient and able to charge electric vehicles.
Massive investments will be needed to help those countries with a higher reliance on fossil fuel to manage the transition, EU officials have said. Announcing the plan, European Commission President Ursula von der Leyen. She said it "puts us on a clear path towards climate neutrality in 2050."