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    EU Unveils Green Deal


Proposals include a 50% cut in emissions by 2030, a carbon tax on imports and facilitating €100bn in investment in cleaner energy.

by: Joseph Murphy

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EU Unveils Green Deal

The European Commission signed off on President Ursula von der Leyen’s European Green Deal on December 11 – an ambitious plan to make the bloc climate neutral by 2050.

The Commission’s proposals also include a goal to cut emissions by “at least” 50% by 2030, from the current 40% target, and a mechanism for taxing imports based on their carbon pollution, according to documents published on December 11. A fund will also be set up to “facilitate” €100bn in investment in transitioning the EU from fossil fuels to cleaner energy.

The Green Deal still needs approval by the leaders of the EU member states and the European Parliament. If they endorse it, the Commission will propose climate laws in March 2020 to implement the plan.

Von der Leyen, who has made climate issues a focus of her presidency, said the Green Deal represented Europe’s “new growth strategy.”

“We do not have all the answers yet, today is the start of a journey, but this is Europe’s man on the moon moment,” the president said in a statement. “The European Green Deal is very ambitious, but it will also be very careful in assessing the impact and every step we are taking.”