Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Analysis-Europe hits resistance in race to finalise green laws
    Top Stories

    Analysis-Europe hits resistance in race to finalise green laws

    Analysis-Europe hits resistance in race to finalise green laws

    Published by Uma Rajagopal

    Posted on May 25, 2023

    Featured image for article about Top Stories

    BRUSSELS (Reuters) – Increased political resistance to new EU laws to protect the environment has left the European Commission fighting to keep intact its vision for Europe’s green transition.

    Ahead of elections in the European Parliament in June next year, the European Union is racing to finish legislation that includes two landmark nature bills – binding targets for countries to restore damaged natural habitats and a goal to halve chemical pesticide use by 2030.

    Much EU environment legislation has been passed over the last two years, but the appetite on the part of some lawmakers and member states for more is waning and farming groups say further change must be conditional on more financial support.

    Brussels proposed the nature measures last June. Opposition has mounted in recent weeks, as EU countries and lawmakers prepare for the final negotiations. The European Parliament’s biggest group, the European People’s Party, has called for the nature law to be scrapped saying it would hurt farmers.

    “It’s just too much. People are frustrated with new rules every year,” EPP lawmaker Peter Liese said.

    The Commission proposal gives countries discretion to decide how and where to reverse biodiversity loss. But that flexibility, Liese said, makes it impossible for farmers to prepare.

    “No farmer can predict what’s happening on his land, what kind of rules he has to follow, in the next years,” Liese said.

    Other EU green proposals have also met resistance. And as the elections approach, unfinished laws are piling up. Their fate would be unclear under a new EU Parliament with a different composition.

    French President Emmanuel Macron this month suggested a pause on new European environment regulation, to give industries time to absorb recently-agreed laws.

    The Commission last week delayed another scheduled package of environmental proposals, plus a bill on microplastic pollution. A Commission spokesperson declined to comment on the reason for the delay.

    Meanwhile, EU countries are pushing to weaken proposed pollution curbs for farms and methane emission limits for energy producers. Some capitals want to scrap new car pollution limits, and the EU’s renewable energy targets are deadlocked by an argument over whether nuclear energy can be included.

    NATURE AND CLIMATE LINK

    In the last two years, the Commission, whose make-up will also change following next year’s parliamentary elections, has proposed more than 30 laws designed to deliver green goals. The aim is to steer countries towards the EU’s target to have zero net greenhouse gas emissions by 2050.

    Most have been successfully passed, including tighter CO2 limits for cars, higher CO2 costs for industries and requirements to expand CO2-absorbing forests.

    Many of the remaining bills are focused less on planet-warming CO2 emissions than on other environmental calamites – pollution, the collapse of bee and butterfly populations, or Europe’s poor soil health.

    EU officials say these crises are just as important as climate change, and are inextricably linked.

    Restored ecosystems such as forests and peatlands, for instance, absorb more CO2 emissions. Greenhouse gas emissions from agriculture – the sector most affected by the nature laws – have barely fallen since 2005, the European Environment Agency has said.

    Scientists have also raised alarm that drastic declines in insect populations have serious implications for other species and food crop yields.

    “Without the nature pillar, the climate pillar is also not viable,” EU climate policy chief Frans Timmermans told EU lawmakers this week.

    Campaigners say losing the bill would also undermine the EU’s international standing, after it lobbied for more ambitious global action at last year’s U.N. biodiversity COP15 summit.

    Some countries, however, say more environment laws would overburden industries and risk denting political support for green measures.

    Belgian Prime Minister Alexander De Croo this week said nature restoration, pesticide control and soil quality needed to be addressed, but he considered they were “lower ranked priorities” than tackling climate change.

    “We could lose that momentum that we have built if we overburden ourselves with challenges that are not as life-threatening as climate change,” he told the Wirtschaftstag economic conference.

    NATURE VERSUS INFRASTRUCTURE

    In closed-door negotiations, countries are seeking a long list of changes to the nature restoration law, diplomats said.

    Denmark and the Netherlands are among those that want amendments to ensure countries can still quickly build infrastructure such as wind farms in areas where nature is being restored.

    “We cannot do everything everywhere – housing, energy transition, nature restoration, flood protection,” Dutch Nature Minister Christianne van der Wal told Reuters.

    Farming groups say the EU’s increasing environmental demands are not being matched with funding – which they say should be in addition to the EU’s existing farming subsidies.

    “The missing EU funding for this is a clear problem,” said Pekka Pesonen, who heads European farming group Copa-Cogeca.

    Even if countries find a compromise, the European Parliament could block the law, if other lawmaker groups side with the EPP. Two EU Parliament committees this week voted to reject it, signalling a tough vote ahead in the full Parliament.

    (Reporting by Kate Abnett; editing by Barbara Lewis)

    Related Posts
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Top Stories PostArmani sales up 18% in Q1 as Asia rebounds, U.S. slows down
    Next Top Stories PostOil eases as Russia downplays additional OPEC+ cuts

    More from Top Stories

    Explore more articles in the Top Stories category

    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust

    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust

    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews

    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews

    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust

    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    View All Top Stories Posts