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  • By The Financial District

EU Okays Ban On Combustion Engine Cars starting 2035

The European Parliament and EU member countries have reached a deal to ban the sale of new gasoline and diesel cars and vans by 2035, the Associate Press (AP) reported.

Photo Insert: The EU wants to drastically reduce gas emissions from transportation by 2050 and promote electric cars.

EU negotiators sealed on Thursday night the first agreement of the bloc’s “Fit for 55” package set up by the Commission to achieve the EU’s climate goals of cutting emissions of the gases that cause global warming by 55% over this decade.

The EU Parliament said the deal is a “clear signal ahead of the UN COP27 Climate Change Conference that the EU is serious about adopting concrete laws to reach the more ambitious targets set out in the EU Climate Law.”

According to the bloc’s data, transport is the only sector where greenhouse gas emissions have increased in the past three decades, rising 33.5% between 1990 and 2019. Passenger cars are a major polluter, accounting for 61% of total CO2 emissions from EU road transport.

The EU wants to drastically reduce gas emissions from transportation by 2050 and promote electric cars, but a report from the bloc’s external auditor showed last year that the region is lacking the appropriate charging stations.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

“This is a historic decision as it sets for the first time a clear decarbonization pathway — with targets in 2025, 2030, and 2035 and aligned with our goal of climate neutrality by 2050,” boasted Pascal Canfin, the chair of the environment committee of the European Parliament.

“This sector, which accounts for 16% of European emissions at the moment, will be carbon neutral by 2050.“

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

World leaders agreed in Paris in 2015 to work to keep global temperatures from increasing more than 2 degrees Celsius (3.6 degrees Fahrenheit), and ideally no more than 1.5 degrees C (2.7 F) by the end of the century. Scientists even the less ambitious goal will be missed by a wide margin unless drastic steps are taken to reduce emissions.

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