The European Parliament has adopted a resolution calling for an end to fossil fuel subsidies and a halt to all new investments linked to their extraction by the end of 2025.
The resolution was adopted in conjunction with the climate change conference scheduled for December. The EP adopted its position with 462 votes in favour, 134 votes against and 30 abstentions.
The resolution calls for an end to all direct and indirect fossil fuel subsidies at national, EU and global levels “as soon as possible and no later than 2025”. MEPs also support the global target of tripling renewable energy and doubling energy efficiency by 2030, along with a measurable phase-out of fossil fuels as soon as possible and halting all new investments in mining fossil fuels.
The text calls on all countries to strengthen their climate commitments and make their fair contribution to increasing international climate finance. MEPs emphasize the importance of protecting, conserving and restoring biodiversity and want to significantly reduce climate impact and methane emissions, as well as sectors such as international shipping and aviation, agriculture and defense.
The COP28 climate conference will be held from November 30 to December 12, 2023 in Dubai (United Arab Emirates).
Won’t Germany phase out coal by 2030? The FDP leader hesitates and points to Poland
The government of the SPD, the Greens and the FDP wrote in its coalition agreement that it wants to phase out coal “preferably by 2030”, although the second deadline is 2038. Now the head of the liberal FDP, Finance Minister Christian Lindner has publicly questioned the chances of achieving this more ambitious goal.
– Until it is clear that energy is available and affordable, we should stop dreaming about moving away from coal-fired energy by 2030, Christian Lindner told the Koelner Stadt-Anzeiger newspaper. Interestingly, he stated that achieving this goal would not translate into climate benefits anyway. According to the politician rescued in Germany Co2 emissions, For example, due to European regulations, they would also be produced in Poland.
This autumn, the government of Olaf Scholz must assess whether it is at all realistic to phase out coal within the dates set in the contract. Germany must be climate neutral by 2045.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.