Climate-Neutral Goal in Europe Heads for Government Vote in June

(Bloomberg) -- Want the lowdown on European markets' In your inbox before the open, every day. Sign up here.The European Union's goal to become the first climate-neutral continent is headed for a major test in June, when national governments may be asked to vote on a law that would make binding the remit set out in the Green Deal.Croatia, which is chairing meetings of the EU member states in the first half of 2020, wants to discuss the details of the planned law in the coming months and seek a common stance before its presidency ends, according to the country's Environment and Energy Minister Tomislav Coric. The law is currently being drafted by the European Commission, the EU's regulatory arm. It's tentatively due to be unveiled on Feb. 26.'Our strategy is going to be to do our best to advance until June,' Coric told members of the EU Parliament's environment committee in Brussels on Tuesday, adding that the schedule will also depend on other member states. 'We believe that the ministers of environment of all the member states are aware of the need to fight against climate change and that they are aware the fight against climate change has no alternative.'EC President Ursula von der Leyen has put at the heart of her agenda the Green Deal, a far-reaching strategy that will affect everything from energy to agriculture and transport. She wants the EU to zero out fossil fuel pollution by the middle of the century. The measures would also tighten the 2030 goal to reduce greenhouse gases to 50% or even 55% from 1990 levels. The current objective is for a 40% cut.The new law will be an update to the existing EU climate rules. It is not clear yet whether the commission will just seek to enshrine the 2050 remit in the legislation or whether it will also opt to propose a new target for 2030 or a potential mid-term goal for 2040. The EU Parliament passed a non-binding resolution last week asking that the law should include both the more ambitious, 55% target for the next decade and an interim objective for 2040.Once unveiled, the law will be discussed by governments in the EU Council and by members of the European Parliament. Climate neutrality will be on the agenda of various ministerial meetings, including an informal gathering of environment ministers in Croatia in April, according to Coric.After those discussions and the Council and the Parliament agree their positions, those institutions and the European Commission would need to iron out any differences in negotiations to agree a final version of the law. That will then pave the way for the commission to propose changes to more specific laws that would govern areas such as the EU carbon market.'Croatia sees the Green Deal as an opportunity to transition towards a much more fair and better economic model,' Coric said. 'And I do hope that other member states agree with our view.'To contact the reporter on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.netTo contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Lars PaulssonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.
Click here to read full news..