· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: A recent study reveals that only six out of 27 EU member states have climate plans meeting the required standards
• Germany and Italy are the worst performers, projected to miss their 2030 emissions targets by 10% and 7.7% respectively
• France is also at risk of missing its targets if there are policy backtracks or increased energy demands
🔭 The context: The EU's Effort Sharing Regulation (ESR) mandates a 40% reduction in greenhouse gas emissions by 2030 compared to 2005 levels
• Member states must address emissions in five key sectors: transport, buildings, small industry, waste, and agriculture
• Each country’s target is adjusted based on GDP, with wealthier nations facing stricter requirements
🌍 Why it matters for the planet: Failure to meet these targets jeopardizes the EU's collective climate goals, critical for mitigating global warming and its associated impacts
• Missing these goals means increased emissions, which can worsen climate change effects such as extreme weather events
⏭️ What's next: Countries that fail to meet their targets may have to buy carbon credits, potentially leading to a credit scarcity and higher prices by 2030
• Governments have the option to implement more robust policies, like promoting electric vehicles and improving building insulation, to meet their targets and avoid financial penalties
💬 One quote: “The sheer amount of penalties countries might need to pay in 2030 is mind blowing,” said Sofie Defour, climate director at T&E
📈 One stat: Under current plans, EU emissions are projected to fall by only 35.5% by 2030, missing the 40% target by 4.5%
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