Namibia: EU to cut emissions 90% by 2040, offshore carbon credits allowed – News

European Union (EU) countries and lawmakers reached a final deal on Wednesday to set an ambitious target for cutting greenhouse gas emissions by 2040, allowing carbon credits bought outside the continent to help reach the goal.

A number of countries, led by Italy, had expressed concern at the target of reducing the 27-nation bloc’s emissions by 90% from 1990 levels by 2040.

The final deal allows for 5% of cuts to be accounted for through carbon credits acquired for projects outside…