Investing.com -- The European Union’s proposal for climate targets set for 2040 will not be finalized within the first quarter of 2024, according to a spokesperson from the European Commission. The announcement came on Friday, confirming that the proposal’s adoption will be delayed beyond the initially expected timeframe.

The spokesperson stated to reporters, "Q1 indeed ends next week ... so we can confidently say that it will not be adopted in Q1". This statement confirms that the proposal’s finalization will not meet the initial deadline set for the end of Q1 in 2024. The new timeline for the adoption of the 2040 climate target proposal has not been specified yet.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.