The EU's environment ministers have set a domestic climate target to cut CO2 emissions by 2040, aiming for a 66.25–72.5% reduction in GHG emissions by 2035 compared to 1990 levels. This decision comes ahead of the COP30 UN climate summit in Brazil, where the EU seeks to reaffirm its commitment to the Paris Agreement and promote global climate action. The EU plans to enhance climate finance for developing nations and emphasizes the importance of carbon pricing as a strategy to reduce emissions.