Posts

Green Deal law to make EU’s energy shift irreversible

by Ewa Krukowska, Bloomberg, January 28, 2020


Highlights

The European Union is drafting a measure, titled the Green Deal, to eliminate greenhouse gas emissions entirely by 2050 in hopes to become the world’s first carbon neutral continent. 

  • The EU wants to make their new climate law irreversible 
  • The Green Deal is meant to keep Europe on track with the Paris Agreement climate goals
  • Reaching the existing climate targets will require additional spending of 260 billion euros ($286 billion) annually

The Climate Center works on achieving carbon neutrality by 2030 and net negative emissions by 2035 through rapid decarbonization.


Read more: https://www.bloomberg.com/news/articles/2020-01-28/green-deal-law-to-make-eu-s-tectonic-energy-shift-irreversible

solar farm

EU’s lending arm plans to phase out fossil-fuel funding

By Jonathan Stearns and Ewa Krukowska, Bloomberg

The European Investment Bank plans to stop funding fossil fuels starting in 2021 as Europe steps up the fight against climate change.

The Luxembourg-based EIB, the European Union’s lending arm, aims to increase support for clean-energy projects as the EU crafts stronger policies to counter the more frequent heat waves, storms and floods tied to global warming. Fossil fuels such as coal, oil and natural gas are leading contributors to climate change.

More: https://www.bloomberg.com/news/articles/2019-07-26/eu-s-lending-arm-plans-to-phase-out-fossil-fuel-funding