Climate report shows the largest annual drop in EU greenhouse gas emissions for decades

The European Commission's 2023 climate action progress report reveals that EU greenhouse gas emissions fell by 8.3% compared to 2022, placing emissions 37% below 1990 levels. Simultaneously, the EU's GDP has grown by 68%, demonstrating that economic growth and emissions reduction are compatible. The EU remains on track to meet its target of reducing emissions by at least 55% by 2030.

Key findings include:

• A record 16.5% reduction in emissions from power and industrial installations under the EU Emissions Trading System (ETS).
• A 24% drop in emissions from electricity and heating, driven by the expansion of wind and solar energy.
• €43.6 billion in revenues from the ETS for climate action investments.
• A modest 2% decrease in emissions from buildings, agriculture, domestic transport, small industries, and waste.
• An 8.5% rise in natural carbon absorption, reversing recent declines in the land use and forestry sector.
• However, aviation emissions increased by 9.5%, reflecting post-COVID recovery.

Despite these achievements, extreme weather events highlight the urgency of sustained climate action. The EU’s efforts under the European Green Deal have set a global example, integrating climate, energy, transport, and taxation policies to meet ambitious targets. Beyond the 2030 goal, the EU aims to achieve net-zero emissions by 2050, maintaining climate action as a top priority under the new Commission mandate.