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European Commission adopts new regulation eliminating 500 million tonnes of CO2-equivalent emissions

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on ESG News or enjoy below:

🗞️ Driving the news: The European Commission has adopted new regulations targeting the elimination of fluorinated gases (F-gases) and ozone-depleting substances (ODS), aiming to cut 500 million tonnes of CO2-equivalent emissions by 2050
• This initiative is part of the EU Green Deal, significantly reducing the use and production of harmful gases to achieve the EU’s 2030 climate targets and climate neutrality by 2050

🔭 The context: F-gases, especially hydrofluorocarbons (HFCs), contribute over 3% to the EU's total greenhouse gas emissions
• The new legislation mandates a 95% reduction in HFCs by 2030 compared to 2015 levels, with a complete phase-out by 2050
 • Restrictions are also placed on the use of all F-gases in equipment where eco-friendly alternatives exist

🌍 Why it matters for the planet: The aggressive phase-out of F-gases and ODS is crucial for mitigating global warming, as these substances have a significantly higher warming potential than CO2
• The initiative underscores the EU’s commitment to leading by example in the global effort to combat climate change, aiming to inspire similar actions worldwide

⏭️ What's next: The new regulations are expected to stimulate the development and export of climate-friendly equipment, fostering innovation in clean technologies
This shift will likely lead to more energy-efficient solutions, contributing to a reduction in global greenhouse gas emissions.

💬 One quote: "These pioneering rules should serve as a positive example for our partners around the world and stimulate similar action on these gases in other countries," highlighting the EU's role in setting a global benchmark for environmental standards

📈 One stat: "500 million tonnes of CO2-equivalent emissions reduction by 2050," illustrating the significant impact of the new regulation on the EU's environmental goals

Click for more news covering the latest on ESG

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