European Union leaders to push for climate neutrality by 2050: Sources

European Unionleadersmeeting in Brussels next week willpushto agree to put the bloc on net-zero greenhouse gas emissions by2050, their draft joint statement showed on Monday, heralding a bitter fight looming at their gathering.

The December12-13 summit of the bloc's nationalleaderswill aim to endorse "the objective of achieving aclimate-neutralEUby2050", according to thedocumentseen by Reuters.

Previous attempts, however, were blocked by Poland, Hungary and the Czech Republic, who rely on highly polluting coal. They have previously said they opposeclimateneutrality by2050for fear cutting greenhouse emissions will stifle their economies.

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To convince the reluctant camp, the draft summit conclusions refer to "just and socially balanced transition", theEuropean Investment Bank's announcement to unlock 1 trillioneuros worth of green investment until 2030, the need to ensure energy security and competitiveness vis-à-vis foreign powers not pursuing suchclimategoals.

The draft, prepared in advance of theleaders' discussions, may still change. But it will eventually need unanimous backing of allEUnationalleadersfor there to be an agreement at the summit.

The bloc's new executiveEuropean Commission also aims topushforclimateneutrality by mid-century and wants to make theEU's 2030climatetargets more ambitious.

Current targets envisage cutting theEU's greenhouse gas emissions by 40 per centby 2030 from 1990 levels. The new Commission, led by Germany's Ursula von der Leyen, hopes to raise the goal to at least 50 per cent.