HomeCarbon NewsEU to be Carbon Neutral by 2050

EU to be Carbon Neutral by 2050

The European Union has announced a plan to become carbon neutral by 2050. The plan outlined in the European Green Deal was drafted to meet the EU’s commitment to the Paris Climate Agreement.

The Paris Agreement aims to keep the Global Temperature increase to less than 2°C. However, now there is legislation in the union to pursue the goal of 2°C.

Each member state is to devise its own plan of action to reducing emissions.

Plans of Action

The plan is to impact many of the sectors within the member states. The automobile industry will be subject to major changes as diesel and gasoline cars are to be phased out by 2035. In addition, both electric and hydrogen charging stations will be required to be installed along major highways, spaced 60 kilometers apart.

Carbon Taxes

The EU is also looking at introducing carbon tariffs on products being made outside of the EU, where emission laws are less strict. Previously, G20 leaders had been discussing carbon pricing and tariffs as a useful mean to combat climate change. The mindset surrounding carbon pricing has changed, which can only aid in the fight against climate change.

As a result, it will encourage EU member states to import goods locally. Initially, the carbon tariffs will affect natural resource sectors such as iron and steel followed by other sectors.

It will be difficult for smaller union states to adjust their economy to match the demands of the EU. The nations who rely on importing natural resources from outside the EU will be affected the most and may cause the negotiations to falter.

Most Popular
LATEST CARBON NEWS

Humanity is on Thin Ice Says UN Climate Report

The UN Intergovernmental Panel on Climate Change (IPCC) released its 6th Assessment Report with a key message that the planet is running out of...

Will Big Oil Be Forced to Pay for Climate Damages

The U.S. Department of Justice sided with Colorado's local governments, which is the most recent case of a growing wave of governments pushing for...

The EU Net-Zero Industry Act Explained

The European Commission (EC) proposed the Net-Zero Industry Act to ramp up manufacturing of clean technologies in the EU and make the bloc prepared...

Carbon Credits from Efficient Railways

EKI Energy Services Ltd. (EKI) has made a deal to provide consultancy service contracts for the carbon credits project of Kochi Metro Rail Limited...
CARBON INVESTOR EDUCATION

What are Renewable Energy Credits vs. Carbon Credits

Also known as green tag, the use of renewable energy credits (RECs) have been on the rise as entities are looking for ways to...

Wood Vault: a Carbon Storage System to lock CO2 away

Removing carbon dioxide through dead trees and storing it for thousands of years underground is a mission that seems to attract nobody. But a...

How Do Carbon Offsetting Projects Work?

All companies will have to take responsibility for their carbon footprint and carbon offsetting projects are becoming their strong ally.  A business may have already...

Inside Carbon Markets: Problems, Causes, and Potential Solutions

The recent scandals in the carbon markets show that just like other markets with contested reputations, rules are needed that go beyond certification. There should...