If Reuters, and all the other Credentialed Media outlets running this, had any journalistic integrity they’d ask who is set to profit from this
EU includes international CO2 credits in climate goal for first time
The European Commission on Wednesday proposed an EU climate target for 2040 that for the first time will allow countries to use carbon credits from developing nations to meet a limited share of their emissions goal.
The European Union executive proposed a legally-binding target to cut net greenhouse gas emissions by 90% by 2040, from 1990 levels – aiming to keep the EU on course for its core climate aim to reach net zero emissions by 2050.
But following pushback from governments including France, Germany, Italy, Poland and the Czech Republic, the Commission also proposed flexibilities that would soften the 90% emissions target for European industries.
The EU has among the world’s most ambitious climate targets. So far, its emissions targets have been based entirely on domestic emissions cuts.
Reflecting Germany’s public stance, up to 3 percentage points of the 2040 target can be covered by carbon credits bought from other countries through a U.N.-backed market, reducing the effort required by domestic industries.
Now, this cash scheme would supposedly be phased in in 2036, but, would anyone be surprised if that date gets moved to a lot closer than that within the next year, and that the 3 percentage points gets significantly raised? Because someone is going to profit off the carbon credits, and this will be a huge money maker as the money is shifted around and siphoned.
Climate change has made Europe the world’s fastest-warming continent and a severe heatwave this week caused wildfires and disruption across the continent, but Europe’s ambitious policies to combat temperature rise have stoked tensions within the 27-member bloc.
Wait, I thought Asia was the fastest? Or, was that Antarctica? Africa? Or is it the Arctic, or the east coast of North America?
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Author: William Teach
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