The European Union is at risk of missing its ambitious climate goals for 2030, and Germany and Italy are largely to blame.
There’s just one problem: Germany and Italy could eat up the majority of credits available across the EU, setting up a costly bidding war by other countries that also miss their climate goals.
“Germany and Italy are eating up all available carbon credits from their neighbours, leaving them stranded and at risk of legal proceedings,” Sofie Defour, climate director at T&E, said in a statement.
An EU climate law, known as the Effort Sharing Regulation, sets binding emissions reduction targets for each of the bloc’s 27 countries.
Attempts by countries including Germany, Italy, and France to slash emissions from agriculture and transportation have sparked protests by farmers and citizens worried they will push up the costs and make EU products more expensive than imports.
Defour said countries face a choice: pay billions to their neighbors for their carbon debt or implement stronger climate policies, such as insulating houses to make them more energy efficient.
The original article contains 355 words, the summary contains 176 words. Saved 50%. I’m a bot and I’m open source!
This is the best summary I could come up with:
The European Union is at risk of missing its ambitious climate goals for 2030, and Germany and Italy are largely to blame.
There’s just one problem: Germany and Italy could eat up the majority of credits available across the EU, setting up a costly bidding war by other countries that also miss their climate goals.
“Germany and Italy are eating up all available carbon credits from their neighbours, leaving them stranded and at risk of legal proceedings,” Sofie Defour, climate director at T&E, said in a statement.
An EU climate law, known as the Effort Sharing Regulation, sets binding emissions reduction targets for each of the bloc’s 27 countries.
Attempts by countries including Germany, Italy, and France to slash emissions from agriculture and transportation have sparked protests by farmers and citizens worried they will push up the costs and make EU products more expensive than imports.
Defour said countries face a choice: pay billions to their neighbors for their carbon debt or implement stronger climate policies, such as insulating houses to make them more energy efficient.
The original article contains 355 words, the summary contains 176 words. Saved 50%. I’m a bot and I’m open source!