BRUSSELS – EU climate ministers struck a tentative deal on a 2040 climate change target in the early hours of Nov 4 after watering down the goal in last-minute negotiations, a draft EU document showed, as they raced to clinch the deal before the UN COP30 summit in Brazil.

After more than 18 hours of negotiations, climate ministers from European Union countries gave their informal backing to a compromise to cut emissions 90 per cent by 2040, from 1990 levels, but with flexibilities to weaken this aim, EU diplomats said.

EU ministers planned to reconvene later on the morning of Nov 5 to formally approve the deal.

A handful of countries including Poland, the Czech Republic and Hungary had indicated they would oppose the plan but not enough to block the agreement, which needs backing from at least 15 member states, diplomats said.

“We believe we have the basis for a political deal,” said a spokesperson for Denmark, which holds the EU’s rotating presidency and chaired the talks.

The weakened target would let countries buy foreign carbon credits to cover up to 5 per cent of the 90 per cent emissions-cutting goal, according to a draft of the EU deal, seen by Reuters.

That would effectively weaken to 85 per cent the emissions cuts required from European industries, and pay foreign countries to cut emissions on Europe’s behalf to make up the rest.

The draft said the EU would also consider the option, in future, to let countries buy international carbon credits to meet a further 5 per cent of their 2040 emissions reductions – potentially shaving another 5 per cent off their domestic target.

The EU is racing to agree its new climate goal to avoid going empty-handed to the COP30 climate summit, where European Commission President Ursula von der Leyen will meet other world leaders on Nov 6.

“We have a lot at stake. We are risking our international leadership, which is fundamental in this extraordinarily complicated context,” Spanish Environment Minister...