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

Tatas in plans to acquire Bisleri in a deal worth USD 856 million

Tatas in plans to acquire Bisleri in a deal worth USD 856 million

By Nikita Chaurasia

India's fast-moving consumer goods company, Tata Consumer Products Ltd is reportedly all set to acquire drink company, Bisleri International in a deal worth USD 856 million (₹7000 crores), reported the packaged water makers chairman, Ramesh...

Ukio raises $28M to offer comfort to working professionals across Europe

Ukio raises $28M to offer comfort to working professionals across Europe

By Nikita Chaurasia

Ukio, an apartment rental agency in Barcelona, Spain, has reportedly raised $28 million (€27 million) in a Series A round of funding. Apparently, the cash injection consists of over $17.5 million (€17 million) in equity and more than $10...

Amazon’s AWS unveils 2nd infrastructure region in Hyderabad, India

Amazon’s AWS unveils 2nd infrastructure region in Hyderabad, India

By Nikita Chaurasia

IT service management company, Amazon Web Services, Inc. (AWS), has recently announced the unveiling of another leading AWS infrastructure region in India, the AWS Asia Pacific (Hyderabad) Region. Starting this week, the startups, developers, ente...

Beijing reports increase in COVID-19 cases after first death in six months

Beijing reports increase in COVID-19 cases after first death in six months

By Nikita Chaurasia

World's most populous country, China has recently reported the fatalities of three people in Beijing as the first fatalities from coronavirus in the last six months, with the rise in recorded new cases despite following the strictest zero-COVID p...

India flags concern as rich nations want to extend mitigation to agriculture

India flags concern as rich nations want to extend mitigation to agriculture

By Nikita Chaurasia

During the ongoing COP27 (UN climate summit) in Egypt, India has countered the developed world’s effort for extending the scope of mitigation to agriculture, stating that rich nations are not seeking to mitigate emissions by modifying their lif...