The EU has agreed to force carmakers to produce a 100% reduction in carbon dioxide emissions by the year 2035. The measure would mean a complete elimination of production and sales of all internal combustion engine vehicles by 2035.
Negotiators from EU member states, the European Parliament, and the European Commission, reached the agreement on Thursday. All must come to agreement for the EU to adopt a new law.
In a press release, the Commission said, “The European Commission welcomes the agreement reached last night by the European Parliament and Council ensuring all new cars and vans registered in Europe will be zero-emission by 2035.”
The agreement also would force a 55% reduction in carbon dioxide emissions for new cars sold in 2030 compared to 2021 levels. It was a steeper cut than the current target, which called for a 37.5% reduction.
Frans Timmermans, the EU climate policy chief said of the agreement, “Europe is embracing the shift to zero-emission mobility.”
In a press release, the EU Commission said the new rules aim, “to make the EU’s transport system more sustainable, provide cleaner air for Europeans, and marks an important step in delivering the European Green Deal.”
The new agreement is not yet set in stone, however, It is a provisionary agreement, which will require adoption by both the European Parliament and the EU Council. So far, it is unclear exactly when this will occur.
The Daily Financial Trends
