World News

EU executive puts forward "Green Deal" to go climate neutral by 2050

BRUSSELS (Reuters) - The European Union’s executive arm will propose in March 2020 new laws to make the bloc climate neutral by 2050 as part of the “European Green Deal”, a set of new climate policies presented by the European Commission on Wednesday.

It will also propose by mid-2020 more ambitious targets to cut emissions by 2030 from the current 40% target to “at least” 50%, according to the document published on Wednesday. It will also push a carbon border mechanism to tax polluting imports.

The Commission has also proposed creating an additional fund that would “aim to facilitate” 100 billion euros in investment for transition from fossil fuels towards a more green economy.

Reporting by Jonas Ekblom, Editing by Gabriela Baczynska