"When the European Union launched its green deal in 2019, putting into law the goal of climate neutrality by the middle of the century, it showed strategic foresight as well as global leadership. Russia's war in Ukraine has starkly underlined the extent to which the continent's energy security and its future prosperity is dependent on the transition away from fossil fuels."
"The recent European Industry Summit in Antwerp made unusually big headlines thanks to Sir Jim Ratcliffe's xenophobic outburst over immigration. But it was also notable for fierce attacks on one of the most important pillars of EU environmental policy. The bloc's emissions trading system (ETS) which makes polluters pay for the C02 they emit has achieved dramatic results in driving down overall emissions since 2005 and encouraging green innovation."
"Worryingly, the German chancellor, Friedrich Merz, appeared to sympathise with demands from Sir Jim and other CEOs for a radical relaxation of the rules. Together with the far-right Italian prime minister, Giorgia Meloni, Mr Merz is championing a deregulatory approach to delivering growth that risks hobbling Europe's climate ambitions. Ms Meloni has long railed at what she has described as green follies imposed by Brussels. In Mr Merz, an economic liberal instinctively hostile to regulation, she has acquired a powerful ally."
The EU launched the green deal in 2019 to achieve climate neutrality by mid-century and reduce dependence on fossil fuels. Russia's war in Ukraine highlighted the continent's energy security risks and the urgency of transitioning away from fossil fuels. The emissions trading system (ETS) has driven down emissions since 2005 and spurred green innovation by making polluters pay for C02 emissions. Recent political pressure from Germany and Italy seeks deregulation, including relaxing ETS rules, diluting 2040 greenhouse targets, watering down sustainability reporting, and delaying the ban on new petrol and diesel vehicle sales. These shifts risk undermining Europe's decarbonisation and climate ambitions.
Read at www.theguardian.com
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