00:00The European Commission has confirmed that the EU aims to cut its carbon emissions by 90 percent by 2040 in its new proposal for a climate law.
00:13It would allow member states and industries more flexibility to reach this target, including the release of new carbon credits.
00:21It's a huge transition. Let's just realize that. And therefore it is of the most importance to be non-dogmatic about how to reach success.
00:33A lot has been said about the flexibilities and let me dive into that right away.
00:39We will allow for first a limited amount of high-quality carbon credits outside of the European Union.
00:48The Commission said the bloc is on its way to reach the planned 55 percent reduction for 2030.
00:55But environmentalists say the EU is not fully following the recommendations of its Scientific Advisory Board with the new proposals.
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