NEW EU CLIMATE LAW PROMPTS MIXED REACTIONS

EU brokers paved the way for a 55 percent emissions-reduction target to be enshrined in law when striking a deal on new climate rules early Wednesday morning, a move that sparked both praise and criticism across the bloc.

Negotiators representing the 27 governments, the European Parliament, and the European Commission came to an agreement after months of fruitless debates behind closed doors, Leonie Kijewski and Verena Schmitt-Roschmann reported for Deutsche Presse-Agentur (dpa).

The new target is a significant jump from the current target of 40 percent emissions reductions by 2030, compared to 1990 levels. "This is a landmark moment for the EU and a strong signal to the world: our commitment to #ClimateNeutralEU will guide our policies the next 30 years. And positive news to share before #EarthDay [on Thursday]," European Commission Vice President Frans Timmermans, who is in charge of climate, tweeted.

After more than 15 hours of talks in the latest round of negotiations, the negotiators of the European Parliament finally accepted the number that the EU heads of state and government had set at the end of 2020.

The European Parliament had actually sought a more ambitious result, namely a 60 percent reduction in greenhouse gases and a more rigorous calculation method.

One of the main sticking points was the question of whether and to what extent the amounts of carbon dioxide stored by forests, plants, and soils should be included.

MEPs complain that including these so-called "sinks" weakens the emissions reductions target. Instead of 55 percent, the actual savings would only be 52.8 percent, the Greens, among others, pointed out.

But others hailed the deal as historic. "This climate law is a game-changer," the chair for the parliament's environmental committee, Pascal Canfin, said, explaining that it significantly hiked up the emissions reduction target. "There is a before and an after the climate law." Several environmentalists, however, disagreed, arguing that the deal was more show than substance.

WEEKLY FEATURE : TRUEMONEY PHILIPPINES BUCKS THE COVID-19 CHALLENGE