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Europe Must Commit to Carbon Neutrality by 2050

By Sara Patterson
Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.

European CommissionThe European Commission vice-president said on Monday that the Eurozone should commit to climate neutrality by 2050.

“Europe must very clearly commit to a path of climate neutrality by 2050 ... a clean planet for all is in all our interests,” said the European Union Energy Chief Maros Sefcovic in front of the European Assembly.

In 2015, about 200 nations agreed that they must commit to plans to cut greenhouse gas emissions as the climate is currently warming up. In order to reach this goal, the nations of the world should cut emissions to net-zero by 2050. This would imply giving up on fossil fuels and other forms of emission, choosing renewable energy sources instead.

Maros is exhorting Europe to commit once more to carbon neutrality, which (just as we mentioned) consists of reducing carbon emissions and implementing measures that would help to neutralize greenhouse gas emissions in order to fight against climate change, which is an often ignored and overlooked matter.

The European leaders have been trying to reach a unanimous agreement regarding the proposed 2050 target date without being successful. The last time this issue was voted on (last month), countries like Hungary, Estonia, and Poland opposed the plan, while most of the EU members supported it. The main reason behind the opposition is that the EU members haven't made clear how they're going to compensate the poorer European countries, which often rely heavily on Fossil Fuels, besides being a too specific target for some of them.

Several European leaders have supported the measures in the past, among them the German Chancellor Angela Merkel, despite her reservations about the way the Union would implement such measures.

"The discussion is not about whether we can achieve it, but about how we can achieve it," said Merkel on June, "if we can find a sensible answer, then we can join the initiative," she added.

Sara Patterson
About Sara Patterson
Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.
 

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