Source: European Parliament
The question is not of speed to achieve a warming target but of how to use the remaining carbon budget[1] to limit global warming to 1.5 ° C.
This requires strong reductions of global greenhouse gas emissions (GHGs) in the coming years and decades. The Intergovernmental Panel on Climate Change (IPCC[2]) shows global GHGs need to be cut by 43% in 2030 compared to 2019 and that in 2050 global CO2 emissions need to be at 0.
Limiting global warming to 1.5 ° C requires other countries to join the EU on the path to climate neutrality. Countries such as China and India and other major emitters should be encouraged to present and implement long-term strategies for net zero aligned with limiting global warming to 1.5 ° C.
The EU climate neutrality target is compatible with action required at global level to limit global warming to 1.5 ° C. If a Member State reduces emissions faster, this contributes to a slower reduction of the remaining global carbon budget compatible with 1.5 ° C and so makes limiting global warming to 1.5 ° C more likely.
As EU GHG emissions are now 6% of global emissions, the direct, additional impact is limited, but the level of ambition shown by the EU and its Member States is closely watched by international partners and serves as a global role model for climate action.
The outcome of the negotiations for the EU Budget cannot be anticipated. Scientific literature and economic analyses show that the costs of inaction are significantly higher than costs of ambitious action to reach climate neutrality , with significant added value from EU action in terms of competitiveness, energy security, potential for clean tech leadership and reduced climate and health impacts from reducing GHG emissions alongside measures to boost preparedness for climate impacts.