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European Green Deal
December 26 , 2019
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- The EU has promised to bring a law, binding on all member countries, to ensure it becomes “climate neutral” by 2050.
- It was on the side-lines of recently concluded annual Madrid Climate talks.
- EU with 28 member countries are together the third-largest emitter of greenhouse gases in the world after China and the United States.
- The EU is now the first major emitter to agree to the 2050 climate neutrality target.
- The EU also happens to be only one among major emitters to retain the 1990 baseline for emission cuts, originally mandated under the Kyoto Protocol for all developed countries.
- Most other countries have shifted their baselines to 2005 or even later under the 2015 Paris Agreement.
- The Kyoto Protocol required the rich and developed countries to provide finance and technology to the developing countries to help them fight climate change.
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