Greenhouse gas emissions in the European Union fell by eight percent in 2023 but the cuts being made are falling short of EU targets, the European Environment Agency (EEA) reported Thursday.

Following this "largest year-on-year reduction in several decades," emissions were now 37 percent below 1990 levels, the EEA said.

"The huge drop was led by a significant decline in coal use and growth of renewable energy sources and supported by reduced energy consumption across Europe," said an agency statement.

The share of renewable energy in Europe's energy consumption has risen from 10.2 percent in 2005 to 24 percent in 2023, the agency said.

Based on existing measures, projections signal a 43 percent reduction in net emissions in EU countries by 2030 compared to 1990 levels, falling short of the 55 percent target set by the EU, the agency warned.

It added that "22 member states have submitted additional projections that include planned but not yet launched measures."

"Together, these would reduce net emissions in the EU by 49 percent below 1990 levels in 2030," the EEA said, coming closer but still falling short of the target.

"To close the remaining gap by 2030, it is essential that emissions reductions continue at a swift pace over the coming years," the EEA said.