Core Points - The European Parliament has passed a position document supporting the addition of legally binding 2040 climate targets to the EU's existing climate law [1] - The document mandates a 90% reduction in greenhouse gas net emissions by 2040 compared to 1990 levels, while also endorsing flexibility measures proposed by the European Commission [1] - The European Parliament supports member states purchasing international carbon credits to offset up to 5% of their reduction obligations starting in 2036 [1] - The inclusion of permanent carbon removal in the EU's carbon trading system is advocated to help offset hard-to-reduce emissions [1] - The European Commission is required to assess member states' progress towards the mid-term targets every two years, with the possibility of proposing amendments to the climate law if necessary [1] - The EU's climate law, established in 2021, set a legally binding obligation for member states to achieve climate neutrality by 2050 and a target of at least a 55% reduction in emissions by 2030 compared to 1990 levels [1] Summary of Related Developments - In July, the European Commission proposed amendments to the European Climate Law, aiming for a 90% reduction in greenhouse gas emissions by 2040 compared to 1990 levels [2] - The EU Council reached an agreement among member states on the amendment to the European Climate Law, maintaining the 2040 target [2] - The European Parliament will negotiate with the EU Council on the final legislative version of the climate law [2]

Group 1 - Nian Da Environment successfully sold 7 tons of carbon credits on the international carbon credit certification platform Puro, becoming the first domestic project to achieve this [1] - The company has developed a multi-production gasification furnace in collaboration with experts from Nanjing University of Science and Technology and Nanjing Forestry University, which can convert various crop straws into biomass charcoal [1][2] - The application of biomass charcoal has shown to increase soil organic matter content by over 20% and reduce chemical fertilizer usage by 15%-20%, effectively improving crop yield and quality [1] Group 2 - The project utilizes agricultural waste, converting it into biomass charcoal through high-temperature pyrolysis, which stabilizes carbon for over a century [2] - Each ton of biomass charcoal applied is equivalent to removing 1.5 tons of carbon dioxide, contributing to the carbon removal market that is rapidly growing globally [2] - The company can process approximately 8,000 tons of straw annually from over 10,000 acres of farmland, producing around 2,000 tons of biomass charcoal [2] Group 3 - Biomass charcoal reduces chemical fertilizer usage and lowers agricultural non-point source pollution, while also improving environmental quality, indicating a promising "blue ocean" industry [3] - Nanjing has been enhancing services for enterprises and promoting the healthy development of the biomass charcoal industry, achieving a straw comprehensive utilization rate of over 96% [3]