EC launched an online public consultation on the increase of the 2030 climate target of EU and on the actions and policies necessary to achieve deeper greenhouse gas emission cuts. As part of the European Green Deal, EC will put forward a comprehensive plan to increase the 2030 climate target in September this year. The plan will propose to increase the current 2030 target of at least -40% greenhouse gas emission reductions to at least -50% and toward -55%, compared to the 1990 emission levels. Once agreed, EC will then propose to include the new target in the recently tabled European Climate Law. Revising the current 2030 target upwards will put EU on a more gradual pathway to climate-neutrality by 2050. It will also help to ensure first-mover benefits for European industry, avoid stranded assets, and strengthen the global leadership role of in the international climate negotiations. The online consultation will be open until June 23, 2020.
- News Release
- Overview of Consultation
- 2030 Climate and Energy Framework
- European Green Deal
Comment Due Date: June 23, 2020
Keywords: Europe, EU, Banking, Insurance, Securities, Climate Change Risk, ESG, European Green Deal, Climate and Energy Framework, EC
Dr. Denton provides industry leadership in the quantification of sustainability issues, climate risk, trade credit and emerging lending risks. His deep foundations in market and credit risk provide critical perspectives on how climate/sustainability risks can be measured, communicated and used to drive commercial opportunities, policy, strategy, and compliance. He supports corporate clients and financial institutions in leveraging Moody’s tools and capabilities to improve decision-making and compliance capabilities, with particular focus on the energy, agriculture and physical commodities industries.
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