Europe's new climate policy seeks to reduce emissions within a decade

By Nikita Chaurasia  Date: 2021-07-14

Europe's new climate policy seeks to reduce emissions within a decade

The European Union is reportedly looking to forge ahead with climate policy action among the worlds largest greenhouse gas emitters, with a slew of plans to drastically reduce the emission rates by 2030.

Once approved, the policies will enable the world's third-largest economy to meet its ambitious goal of cutting emissions by 55% of 1990 levels, by the end of the decade.

Notably, the ‘Fit for 55’ package will be launched this week and is expected to go through months of negotiations between the European Parliament and 27 EU countries.

The world's two top emitters, the United States and China, also intend to achieve net-zero emissions, which experts believe the world must reach by 2050 to prevent catastrophic climate change.

Nevertheless, the EU has spearheaded the initiative to overhaul legislation to cultivate greener choices within this decade among its o.5 billion population base, and approximately 25 million businesses.

It is also worth mentioning that by 2019, the EU had reduced its emission rates by 24% as compared to 1990 levels. While current emissions from Europe's electricity segment are dropping at a fast pace, other areas have been struggling to improve.

The European Commission is set to propose 12 policies targeting transport, energy, industry, and building heating systems, sources claimed.

Frans Timmermans, the EU Commissioner overseeing the climate policy, was quoted saying that the economy will look a lot better at the end of the transformation, while also bringing the climate crisis under control.

Meanwhile, the proposals have created rifts between wealthier EU and Nordic states where EV sales are on the rise, and their poorer eastern counterparts that are concerned about the economic implications of weaning their industries off coal, cited sources close to the matter.

Source Links –

https://www.reuters.com/business/environment/europes-climate-masterplan-aims-slash-emissions-within-decade-2021-07-12/

 

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

CDC updates guidelines, calls for vaccinated people to mask up

CDC updates guidelines, calls for vaccinated people to mask up

By Nikita Chaurasia

The Centers for Disease Control and Prevention issued new guidelines suggesting that people who are vaccinated against Covid-19 wear masks in public as well as indoor areas where the rate of the disease is high. The CDC also stated that teachers, sta...

iPhone’s hot streak could be hampered by global chip shortage crisis

iPhone’s hot streak could be hampered by global chip shortage crisis

By Nikita Chaurasia

Apple Inc. recently stated that the global chip shortage that has affected the sales of Macs and iPads, will now hit iPhone production and the expected revenue growth is likely to decelerate. This has resulted in lowering Apple’s shares. The c...

EV maker Rivian bags USD 2.5 Bn in a funding round led by Amazon, Ford

EV maker Rivian bags USD 2.5 Bn in a funding round led by Amazon, Ford

By Nikita Chaurasia

American electric vehicle maker Rivian Automotive LLC reportedly secured USD 2.5 billion in a funding round led by Amazon.com Inc, T. Rowe Price, D1 Capital Partners, and Ford Motor Co. In addition, the event also saw participation from Fidelity Man...

ICEA forms committee chaired by HP India MD to boost IT hardware sector

ICEA forms committee chaired by HP India MD to boost IT hardware sector

By Nikita Chaurasia

The India Cellular & Electronics Association (ICEA) recently announced the formation of a committee to promote manufacturing and exports of the IT hardware sector. The panel headed by Ketan Patel, HP India’s Managing Director, will set up a...

Amazon to stop on-site COVID-19 testing in U.S. warehouses this month

Amazon to stop on-site COVID-19 testing in U.S. warehouses this month

By Nikita Chaurasia

Amazon is reportedly planning to discontinue on-site Coronavirus testing for its warehouse employees in the United States. The retail giant confirmed slowing down the testing by 30th July and will only resume after receiving new guidelines change fro...