The European Union’s executive will unveil an ambitious emissions-cut plan this week that’ll leave no sector of the economy untouched, forcing wholesale lifestyle changes and stricter standards for industries.
Under a tighter climate target for 2030, European automakers would need to embrace tougher pollution standards, with new rules that could retire combustion engines to science museums. Energy will grow increasingly cleaner, with an additional €350 billion (¥43.99 trillion) per year required for investment in production and infrastructure. And to help cut greenhouse gases in agriculture, Europeans would be encouraged to eat less meat.
If approved, the new goal to lower emissions in the bloc by 55 percent from 1990 levels will require buildings to be more energy efficient, according to a draft European Commission document seen by Bloomberg News. The cost of pollution for companies, already near record highs, is set to rise, as the EU carbon market gets strengthened.