The delay in the EU's proposal for the 2040 climate target has been confirmed.

Investing.com — The European Commission spokesperson confirmed that the climate targets proposal set for the European Union in 2040 will not be completed in the first quarter of 2024. This statement was made on Friday, confirming that the proposal will face delays beyond the initially expected timeline.

The spokesperson told reporters, "The first quarter actually ends next week... so we can confidently say that the proposal will not be accepted in the first quarter." This statement confirms that the proposal will not meet the initial deadline set for the end of the first quarter of 2024. A new timeline for the acceptance of the 2040 climate target proposal has not yet been specified.