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The EU's 2040 climate target aims for a 90% net reduction in emissions compared to 1990 levels. However, the author contends that this target is a dilution of ambition because it allows 5% of the reduction to be met through international carbon credits and relies on a 'net' framework rather than separate targets for emissions reductions and carbon removals. This design creates a risk of 'mitigation deterrence,' where the expectation of future carbon dioxide removal (CDR) technologies—such as BECCS and DACCS—justifies slower near-term decarbonization. Despite broad stakeholder support for separate targets, including from some business associations and CDR developers, the European Commission opted for a single net target to simplify governance and maintain industrial competitiveness. The document warns that integrating CDR into the EU Emission Trading Scheme (ETS) could further allow large emitters to avoid direct cuts.

The author contends that the current political crisis in Europe, often labeled as the rise of 'illiberal democracy,' is more accurately described as the rise of 'authoritarian capitalism.' This shift is driven by the incompatibility of global economic integration, national states, and democracy, which has left marginalized groups—described as 'vagabonds'—vulnerable to right-wing exploitation. The text argues that left-wing parties have failed by adopting economic liberalism and neglecting the working class, and suggests that only a return to egalitarian principles and a confrontation with the capitalist system can restore democratic legitimacy in Europe.