EU fossil fuel use for energy to drop 80% under 2040 climate goal

The European Union’s use of fossil fuels for energy would drop 80% by 2040, compared with 1990 levels, if the bloc moves ahead with a target to cut net greenhouse gas emissions by 90% by that date, a draft document showed on Tuesday.
The European Union is drafting its first 2040 climate target, to bridge the gap between its existing goals to cut net emissions 55% by 2030 and reach net zero emissions by 2050.
The European Commission will present its first recommendation for the 2040 target next month – and is set to endorse a 90% emissions reduction by 2040, from 1990 levels, Reuters previously reported.
A draft of the Commission’s recommendation for the target, seen by Reuters on Tuesday, said the target would reduce Europe’s net bill for fossil fuel imports by a total of 2.8 trillion euros over 2031-2050, compared with the yearly average over 2011-2020.