By Kate Abnett

BRUSSELS (Reuters) -A committee of European Union lawmakers endorsed on Monday the EU’s plan to cut net planet-warming emissions by 90% by 2040 and water down the effort required by domestic industries by allowing them to use foreign carbon credits for 5% of the goal.

EU countries’ climate ministers struck a final-hour deal on the legally-binding climate goal last week, just in time to avoid going empty-handed to the U.N.’s COP30 climate summit, which starts on Monday in Belem, Brazil.

The target would let countries buy foreign carbon credits to cover up to 5% of the 90% emissions-cutting goal – weakening to 85% the emissions cuts required from European industries.

A majority formed of centre-right, socialist and green lawmakers in the European Parliament’s environment c

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