The European Commission's target of slashing greenhouse gas pollution by 90% is aimed at preventing violent weather systems.
Experts said that the bloc would have to pump 90% less planet-heating gas into the air by 2040 than it previously did in 1990.
Climate Crisis A 'Marathon'
The Commission has been charting the path to reach the goal of making the European Union climate neutral by 2050. It recommended a 90% net greenhouse gas emissions reduction by 2040, which is in line with the recent scientific advice and the EU's commitments under the Paris Agreement.
According to Wopke Hoekstra, an EU climate commissioner, the target figure aims to send a message to the world that Europe has continued to lead the way when it comes to addressing climate crisis.
Hoekstra said that tackling the climate crisis is a marathon, not a sprint, adding that it needs to be ensured that ''everyone crosses the finish line and nobody is left behind.''
The Commission noted some measures would be needed to achieve the 90% reduction target by 2040:
These include the full implementation of the existing EU laws to reduce emissions by at least 55% by 2030 and the decarbonization of the industry by relying on existing strengths like wind power, hydropower, and electrolysers.
Meanwhile, to step up this work strand, the Commission has put forward new measures to manage carbon emissions by industry in the EU, which will see investment in technologies that can capture and store carbon and re-use it.
The EU also aims to increase domestic manufacturing in growth sectors like batteries, electric vehicles, heat pumps, solar cells and other areas of concern.
Further, the Commission seeks to keep fairness, solidarity and social policies at the core of the transition, helping vulnerable citizens, regions, businesses and workers through tools such as the Social Climate Fund and Just Transition Fund.
The Commission also wants to have an open dialogue with all concerned, including farmers, businesses, social partners and citizens.
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Economic Damage
The EU said that in the last five years, climate change has caused an estimated €170 billion of economic damage.
The costs and impacts on human beings are increasingly large and visible.
Officials said that everyone needs to act immediately in order to strengthen Europe's resilience against future crises and be less dependent on fossil fuel imports.
Meanwhile, a 2040 climate target will also help European industry, investors, citizens and governments to make decisions in this decade that will keep the EU on track to meet its climate neutrality objective in 2050.
Authorities said that the target would be discussed with the European Parliament and the Member States.
The next Commission will also put forward legislative proposals on that basis.
The European Climate Law writes into law the goal set out in the European Green Deal for Europe's economy and society to become climate neutral by 2050.
The law sets the intermediate target of reducing net greenhouse gas emissions by at least 55% by 2030, compared to the 1990 levels.
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