The EU is setting a legally binding climate target of 90% reduction in net greenhouse gas (GHG) emissions for 2040. The Commission welcomes last night's provisional political agreement between the European Parliament and EU Member States on this headline target and the amendment of the EU Climate Law. The deal also includes the possibility to use high-quality international credits to reach the 90% GHG emissions cut by 2040, compared to 1990 levels, with an adequate contribution of up to 5%. (Source: European Commission)