The EU should seek to cut greenhouse gas emissions by 90 percent by 2040, its climate commissioner said Tuesday, proposing a new interim target towards making the bloc carbon neutral in 2050.

"Based on the best available science, and a detailed impact assessment, we are recommending that the 2040 target should be a 90 percent emission cut" compared to 1990 levels, said commissioner Wopke Hoekstra, calling for a "fair transition" that will allow EU businesses to thrive.