Latest news with #NeilMakaroff
Observer
02-07-2025
- Business
- Observer
EU unveils long-delayed 2040 climate target, with wiggle room
BRUSSELS: The EU on Wednesday unveiled its long-delayed target for cutting greenhouse gas emissions by 2040, but with contested new flexibilities built in to win over the most sceptical member states. After months of tough negotiations, Brussels announced it would stick to the headline objective announced last year of cutting emissions by 90 per cent by 2040, compared to 1990 levels. The proposal comes as much of Europe roasts in an early summer heatwave, which scientists say are becoming more intense, frequent and widespread due to human-induced climate change. The 2040 target — which needs sign off from the European Union's member states and parliament — is a key milestone towards the bloc's goal of becoming carbon neutral by 2050. Brussels says the EU has already cut climate-warming emissions by 37 per cent relative to 1990 but its green agenda faces pushback with a rightward shift and rising climate scepticism in many European countries. EU climate chief Wopke Hoekstra acknowledged the "sensitive" debate, saying Brussels was keeping an "ambitious" goal while being "pragmatic and flexible on how to achieve it". To sway resistant capitals, the European Commission proposes that from 2036, the bloc's 27 countries can count carbon credits purchased to finance projects outside Europe, for up to three per cent of their emission cuts. Climate campaigners are broadly opposed to the measure. Backed by scientific studies and the commission's own science advisers, they say factoring in international credits -- for things like tree-planting or renewable-energy projects -- risks undermining the EU's own efforts to shift away from fossil fuels. "While this is a step in the right direction, by sneaking in international offsets and leaning heavily on supposed future carbon removals, the European Commission has built loopholes into the heart of the proposal," WWF EU said. "Three per cent is not insignificant," echoed Neil Makaroff, an expert at the climate-focused Strategic Perspectives think tank. "These are potentially considerable sums that will be spent abroad instead of financing the transition" in Europe. "But there's a political compromise to be found," said Makaroff — stressing the importance of "delivering" on the headline target. To reach the 2040 and 2050 objectives, Europe's industry and citizens will have to undertake major transformations including increased uptake of electric cars, the gradual phasing out of fossil fuels and making buildings more energy-efficient. "Today we show that we stand firmly by our commitment to decarbonise Europe's economy by 2050," EU chief Ursula von der Leyen said. EU environment ministers will discuss the objective at a meeting in mid-July, ahead of a vote expected on September 18. EU lawmakers also need to greenlight the target, which requires the support from the biggest group in parliament, the centre-right EPP. To win others over, Brussels also proposes to make it more financially attractive for companies that capture and store CO2. The commission's hope is that the 2040 objective will be approved before the UN climate conference (COP30) in November in the northern Brazilian city of Belem. — AFP
The Sun
02-07-2025
- Business
- The Sun
EU to unveil long-delayed 2040 climate target
BRUSSELS: The EU will present its delayed 2040 emissions-reduction target Wednesday, sticking to its climate goals but with new flexibility to answer the concerns of member states that must greenlight the plans. Brussels is making the 2040 announcement as much of Europe roasts in an early summer heatwave -- which scientists say are becoming more intense, frequent and widespread due to human-induced climate change. The target is a key milestone towards the European Union's goal of becoming carbon neutral by 2050. The bloc says it has cut climate-warming emissions by 37 percent compared to 1990 levels. After months of tough negotiations with EU capitals, the European Commission is finally set to stick to the objective it announced last year of cutting emissions by 90 percent by the year 2040. But in a bid to appease more sceptical member states, the EU's executive arm will introduce some flexibility into the calculation, much to the chagrin of environmental defenders. From 2036, the commission could allow the bloc's 27 member states to count carbon credits purchased to finance projects outside Europe towards their emission cuts, for up to three percent of the total, according to a draft document seen by AFP. But climate groups are fiercely opposed to such a measure. Backed by scientific studies, they question the impact of such credits -- given for things like tree-planting or renewable-energy projects -- on reducing overall CO2 emissions. 'Three percent is not insignificant. These are potentially considerable sums that will be spent abroad instead of financing the transition' in Europe, said Neil Makaroff, an expert at the climate-focused Strategic Perspectives think tank. 'But there's a political compromise to be found,' he said. 'The challenge will be for the EU to establish a standard so that these international credits truly help cut emissions and not leave individual states to their own devices.' 'Don't strain ourselves' EU environment ministers will discuss the objective at a meeting in mid-July before an expected vote on approving the measures on September 18. It will only become law after EU lawmakers also sign off on the target. The commission's hope is that the 2040 objective will be approved before the UN climate conference (COP30) in November in the northern Brazilian city of Belem. But that gives little time for negotiations, which have been complicated by a rightward shift and rising climate scepticism in many European countries. The EU's climate chief, Wopke Hoekstra, has spent months travelling across the bloc trying to find a compromise. For some states, including the Czech Republic, the 90-percent target is unrealistic. Meanwhile, others including Italy and Hungary worry about the burden of decarbonising heavy industry at a time when Europe is working to strengthen its industry in the face of fierce competition from the United States and China. Italian Prime Minister Giorgia Meloni has suggested a target of 80 or 85 percent, while France has expressed doubts over how the EU will reach its objective. French President Emmanuel Macron wants guarantees for the decarbonisation of industry and support for nuclear energy, the largest source of power in France. But the commission can count on the support of other countries including Spain and Denmark, which took over the rotating EU presidency this week. And the three-percent 'flexibility' -- which mirrors demands made in the new German government's coalition agreement -- should help keep the economic powerhouse on board. When it comes to Europe's international commitments, Macron has also stressed that the bloc is only bound to present a midway target for 2035 at COP30 in Belem, and not the 2040 objective. 'Let's not strain ourselves,' Macron told reporters last week. 'If we have (a 2040 target) for Belem, great, but if it takes longer, let's take the time,' he said.
France 24
02-07-2025
- Business
- France 24
EU to unveil long-delayed 2040 climate target
Brussels is making the 2040 announcement as much of Europe roasts in an early summer heatwave -- which scientists say are becoming more intense, frequent and widespread due to human-induced climate change. The target is a key milestone towards the European Union's goal of becoming carbon neutral by 2050. The bloc says it has cut climate-warming emissions by 37 percent compared to 1990 levels. After months of tough negotiations with EU capitals, the European Commission is finally set to stick to the objective it announced last year of cutting emissions by 90 percent by the year 2040. But in a bid to appease more sceptical member states, the EU's executive arm will introduce some flexibility into the calculation, much to the chagrin of environmental defenders. From 2036, the commission could allow the bloc's 27 member states to count carbon credits purchased to finance projects outside Europe towards their emission cuts, for up to three percent of the total, according to a draft document seen by AFP. But climate groups are fiercely opposed to such a measure. Backed by scientific studies, they question the impact of such credits -- given for things like tree-planting or renewable-energy projects -- on reducing overall CO2 emissions. "Three percent is not insignificant. These are potentially considerable sums that will be spent abroad instead of financing the transition" in Europe, said Neil Makaroff, an expert at the climate-focused Strategic Perspectives think tank. "But there's a political compromise to be found," he said. "The challenge will be for the EU to establish a standard so that these international credits truly help cut emissions and not leave individual states to their own devices." 'Don't strain ourselves' EU environment ministers will discuss the objective at a meeting in mid-July before an expected vote on approving the measures on September 18. It will only become law after EU lawmakers also sign off on the target. The commission's hope is that the 2040 objective will be approved before the UN climate conference (COP30) in November in the northern Brazilian city of Belem. But that gives little time for negotiations, which have been complicated by a rightward shift and rising climate scepticism in many European countries. The EU's climate chief, Wopke Hoekstra, has spent months travelling across the bloc trying to find a compromise. For some states, including the Czech Republic, the 90-percent target is unrealistic. Meanwhile, others including Italy and Hungary worry about the burden of decarbonising heavy industry at a time when Europe is working to strengthen its industry in the face of fierce competition from the United States and China. Italian Prime Minister Giorgia Meloni has suggested a target of 80 or 85 percent, while France has expressed doubts over how the EU will reach its objective. French President Emmanuel Macron wants guarantees for the decarbonisation of industry and support for nuclear energy, the largest source of power in France. But the commission can count on the support of other countries including Spain and Denmark, which took over the rotating EU presidency this week. And the three-percent "flexibility" -- which mirrors demands made in the new German government's coalition agreement -- should help keep the economic powerhouse on board. When it comes to Europe's international commitments, Macron has also stressed that the bloc is only bound to present a midway target for 2035 at COP30 in Belem, and not the 2040 objective. "Let's not strain ourselves," Macron told reporters last week. "If we have (a 2040 target) for Belem, great, but if it takes longer, let's take the time," he said.
Euronews
26-02-2025
- Business
- Euronews
A business plan for a low-carbon, competitive European economy
The European Union must become the global destination for green technologies. This is one of the stated objectives of the Clean Industry Pact, presented on Wednesday by the European Commission. The idea is to make decarbonisation a factor in the continent's growth and reindustrialisation. The plan is designed to enable the 27 Member States to make the transition to a low-carbon economy and at the same time keep up pace with their Chinese and American competitors. "The Clean Industrial Pact represents a paradigm shift in European industrial policy. For the first time, there is talk of European preference, particularly for public procurement, to encourage green technologies made in Europe," explains Neil Makaroff, director of the Strategic Perspectives think-tank. "For the first time, we are also going to invest in value chains on a European scale, particularly where there is a gap. Typically, we have no lithium refining capacity, when in fact we need it to produce batteries," he adds. Reducing energy costs The institution is therefore proposing to mobilise more than €100 billion in the short term. It also wants to offer businesses predictability. The aim is to reduce energy costs for industry, starting with energy-intensive ones such as steel and cement, and also households. The institution also wants to take action in the clean technologies sector, which will be at the heart of competitiveness and growth. According to Cleantech for Europe, which represents some twenty green companies, the pact is a step in the right direction. "I think it instils a significant dose of pragmatism into the Green Deal, by recognising that private companies will have to do it and implement it to transform our economy", says Victor Van Hoorn, Director of Cleantech for Europe. Promoting access to resources at the best price The Commission also wants to secure access to critical raw materials, and therefore proposes the introduction of group purchasing or to enable companies to pool their requests. It is also calling on the EU to diversify its supply chains and turn to reliable international partners. The Commission stresses that it will not hesitate to use its trade defence tools to protect European companies in the event of unfair competition. However, some people are questioning the purpose of this plan. Critics fear that this strategy is a roundabout way of unravelling the Green Pact, the flagship project of Commission President Ursula von der Leyen's first term in office. In response to these concerns, the Commission points out that its objective is to achieve carbon neutrality by 2050 and that it is maintaining its ambition to reduce greenhouse gas emissions by 55% by 2030. It also stresses its desire to achieve a 90% reduction in these emissions by 2040. To underline the argument that decarbonisation is a lever for growth, the Commission points out that plans for renewable energies should generate more than 3.5 million jobs by 2030.
