Finland expressed its support to the proposal of the European Commission regarding 90 percent emission reduction target by 2040 compared to the 1990 levels, said the Ministry of the Environment in a press release.
The Commission published a legislative proposal on the emission reduction target for 2040.
This target is part of the EU's long-term climate policy towards climate neutrality by 2050 and the preparations for the COP30 Climate Change Conference in Brazil in November.
For Finland it has been important that, according to the Commission's proposal, the uncertainties in the land use sector will be taken into account in the implementation of the 2040 target.
The proposal also takes into account the role of carbon capture and storage (BECCS) combined with bioenergy production and creates incentives for it.
“The Commission's proposal is in line with Finland's priorities in our efforts to influence the proposal. A long-term and consistent climate policy is important for the EU's competitiveness and creates stability for companies to invest in clean solutions,” said Minister of Climate and the Environment Sari Multala.
In order to achieve this target in the most cost-effective way, the Commission proposes that, starting in 2036, Member States could use a limited share of international carbon credits subject to high integrity criteria and standards.
The use of the credits would be phased in so that in 2036 their share would be zero per cent of net emissions in 1990 but their share could grow linearly so that in 2040 the credits could account for the maximum of three per cent of these.
The Commission’s proposal allows to use carbon credits only in the effort sharing and land use sectors. Finland will explore the flexibilities offered by the Commission's legislative proposal and their significance in terms of the national climate policy.
The Commission also proposed that domestic technical carbon sinks, such as carbon capture and storage, be included in the EU Emissions Trading System.
The Commission stresses that all additional measures require a thorough impact assessment, and that competitiveness and sector-specific flexibility will be taken into account in the implementation.
Technology-neutrality is also important for Finland, meaning that no restrictions are set in advance or certain technologies preferred to reach the emission reduction targets.
The Commission also proposed increased flexibility between sectors. What this means in practice is that slow progress of emission reductions in the land use sector could be compensated for by faster actions in road transport or energy efficiency of buildings.
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Source: www.dailyfinland.fi
