France and Germany Agree to Soften EU Car Emission Targets and Expand 'Made in EU' Scope
- Reports
- 7
- Developments
- 2
- Repetition
- 71%
New informationRepeats or wire copies
What happened
France and Germany reached an agreement to soften proposed European Union car emission rules. The original proposal by the European Commission required automakers to cut CO2 emissions by 90 percent from 2021 levels by 2035, with the remaining 10 percent offset by other measures. The new Franco-German plan sets the 2035 target at 90 percent without requiring additional compensatory measures. The agreement also includes Great Britain in the definition of products that qualify as 'Made in EU' for the automotive sector.
From gdnonline.com, manilatimes.net
Why it matters
The accord aims to shape the continent's policy for the struggling auto industry. The softening of emission targets and the expansion of the 'Made in EU' definition could boost confidence in European automotive stocks. The deal also addresses local-content requirements for products purchased through public procurement.
The bloc's decision-making body in Brussels is proposing reforms to the flagship climate policy, which affects the Emissions Trading System and the Czech Republic.
From gdnonline.com, manilatimes.net
Who's involved
- European CommissionProposed the original EU car emission rules
- EuropeThe region where the climate policy is being reformed
- Great BritainIncluded in the expanded definition of 'Made in EU' products
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- EuropeSpeculative
Europe's automotive industry might benefit from less stringent carbon emission targets, potentially lowering production costs.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Council of the European Union must approve scaled-down EU emission rulesCouncil of the European Union must review scaled-down EU emission rulesLikely
- New EU emission rules may affect European Central Bank's outlookChanges to EU emission rules may influence inflation and economic growth monitored by the ECB.Possible
How it developed
Newest first. Tap a step to see who reported it.Andy Burnham's office views the proposed EU inclusion as good news for Britain.1 source
France and Germany push for scaling down EU emission rules, while Norway maintains opt-in status.1 source
Keep exploring
The entities involved
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Europe
terrestrial continent located in north-western Eurasia
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European Commission
executive branch of the European Union
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Norway
country in Northern Europe