EU States Agree 35% Cut to Car Emissions by 2030 after Alarming UN Climate Change Report

EU States Agree 35% Cut to Car Emissions by 2030 after Alarming UN Climate Change Report

The compromise carbon dioxide reduction target has been set after over 13 hours of talks in Luxembourg.

The member states of the European Union have agreed to seek a 35% decline in CO2 car emissions by 2030 in the wake of an alarmist UN climate change report.

The new CO2 emissions deal of the Union was hammered out at a meeting of EU environment ministers in Luxembourg on Tuesday that lasted for over 13 hours, almost until midnight.

In a joint statement earlier, the EU ministers declared they were worried by the contents of the recent UN report urging swift and unprecedented measures to reduce global warming and breathe new life into the 2015 Paris Climate Change Accord.

With Germany being concerned that overly demanding targets could hurt the car making industry and the jobs it provides, the EU environment ministers eventually reached a compromise over the 2030 carbon dioxide limits for EU’s carmakers, Reuters reports.

Germany had backed an EU executive proposal for a 30% CO2 cut for new cars and vans by 2030 compared with 2021 levels, while several other member states had supported a 40% reduction goal. Germany was supported by several Eastern European member states.

“We saw a really complicated discussion,” EU Commissioner for Climate Action and Environment Miguel Arias Canete said of the compromise that gained the support of 20 nations, with 4 voting against, and 4 abstaining.

The Netherlands and Ireland were among those EU member states who were dissatisfied with the compromise target.

“I never believed at the beginning that such a strong support would be obtained,” the Commissioner declared.

The final rules stemming from the 2030 CO2 deal are to be settled in talks beginning on Wednesday with the EU’s two other lawmaking bodies, the European Parliament and the European Commission.

The Parliament had been seeking a more challenging carbon dioxide limit of 40%, while the Commission had proposed a lower target.

The new rules also create a crediting system to incentivize carmakers to boost the sales of electric cars, which provides for a different accounting in countries where the current market penetration of zero- and low-emissions vehicles is less than 60% below the EU average.

The transport sector is the only industry in the EU with rising CO2 emissions. The new limits are supposed to help the Union achieve its target of cutting greenhouse gas emissions by 40% below the 1990 level by 2030.

The environment ministers of the 28 EU member states reaffirmed their commitment to fighting global warming, making it clear they were prepared to “communicate or update” their Nationally Determined Contributions by 2020.

(Banner image: EU Climate Action on Twitter)

newsletter
Join our mailing list and never miss an update !
China Pulls Plug on Shanghai-London Stock Connect

China Pulls Plug on Shanghai-London Stock Connect

Beijing has reportedly suspended the Shanghai-London Stock Connect scheme due to rising political tensions with London over pro-democracy demonstrations in Hong Kong.  While no official comment has yet been

China’s 2019 IPOs Dwarf EU Offering

China’s 2019 IPOs Dwarf EU Offering

It’s been a banner year for initial public offerings (IPOs) all over the world, and an historic one for the US S&P 500 Index. For European firms, however, the

Nutri-Score and the Battle Over Europe’s Food Labels

Nutri-Score and the Battle Over Europe’s Food Labels

Within the past month, the government of the Netherlands has announced its intention to adopt ‘Nutri-Score’, while Swiss food conglomerate Nestlé has detailed how it plans to roll