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EU Forces Pace on Carbon Cuts, Challenges Others to Follow

Kategori : ELECTRICITY ENERGY NEWS, ENERGY AGENDA NEWS, ENERGY EFFICIENCY NEWS - Tarih : 21 July 2021


The European Union is using its heft as a wealthy trade bloc of half a billion consumers to set the global pace of climate change action, challenging others to match the ambitions of its latest carbon cutting plans.

“Amongst G7 and G20 nations, the EU position is now the explicit global benchmark,” said Julian Poulter, Head of Investor Relations at Inevitable Policy Response, a consultancy on environmental economics.

“It will exert a new influence on that basis, in other industrialised nations and their financial sectors and increase pressure on those nations that remain as climate outliers and spoilers,” he added.

Although it accounts for just 8% of the world’s greenhouse gas emissions itself, the EU hopes it can use its clout as the world’s biggest consumer market to set the climate agenda as it has done in fields ranging from food labels to labour standards.

Source: Reuters


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