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 > Part two of EU climate plan to tackle buildings, methane and natural gas
    Top Stories

    Part two of EU climate plan to tackle buildings, methane and natural gas

    Part two of EU climate plan to tackle buildings, methane and natural gas

    Published by Jessica Weisman-Pitts

    Posted on December 15, 2021

    Featured image for article about Top Stories

    By Kate Abnett

    BRUSSELS (Reuters) -European Union policymakers on Wednesday set out a second set of proposals to cut emissions across its economy this decade and to put it on track for net zero greenhouse gas output by 2050.

    In July, the 27-country bloc became the first of the world’s major emitters to map out a detailed plan to meet its climate https://www.reuters.com/business/environment/wrapup-eu-launches-big-climate-plan-our-children-grandchildren-2021-07-14 targets with legislative proposals including bigger carbon markets and a phase-out of combustion engine car sales.

    The European Commission proposed a second, smaller set of regulations on Wednesday, which is focussed on buildings, methane emissions and natural gas.

    Taken together, the measures aim to ensure the EU – the world’s third-largest emitter – meets its goal to cut net greenhouse gas emissions 55% by 2030, from 1990 levels. By 2019, EU emissions were 24% lower than in 1990.

    “Europe needs to turn the page on fossil fuels and move to cleaner energy sources. This includes replacing fossil gas with renewable and low carbon gases,” EU climate policy chief Frans Timmermans said.

    Each proposal faces months of tough talks between member states and the European Parliament before becoming law, with countries split over issues such as the role of gas in the transition and how to help fossil fuel-dependent communities.

    The measures proposed on Wednesday include a reform of EU gas markets, which aims to integrate low-carbon gases such as hydrogen into the network, but did not offer the firm phase-out plan for fossil gas that campaigners have called for.

    MISSED MOMENT ON METHANE?

    Europe’s natural gas consumption will need to drop in the coming decades to meet climate goals. For now, gas provides around a quarter of EU energy – meaning countries are exposed to volatile prices, which have hit record highs in recent months.

    The Commission also proposed a system to allow countries to jointly buy gas to form strategic reserves, which states including Spain have said would help them to secure supply.

    And Brussels laid out its first legislation to tackle emissions of methane, a potent planet-warming gas.

    This proposal would force oil and gas operators in the EU to find and fix leaks of methane in their infrastructure, though it did not extend the rules to cover the companies abroad that supply most of Europe’s gas.

    “We have health and environmental rules for other imports, so why not natural gas?” said Jill Duggan, executive director of the Environmental Defense Fund Europe.

    “Cutting methane pollution is our best, fastest opportunity to slow the rate of warming… the new EU plan fails to seize the moment.”

    A third proposal aimed at buildings would require EU countries to renovate millions of properties this decade to save energy.

    Roughly 85% of Europe’s buildings are expected to be standing in 2050. Most are heated by fossil fuels and have a poor energy performance, meaning widespread renovations are needed to bring them into line with the EU’s net zero goal.

    To help offset the emissions that cannot easily be cut, Brussels said it would create a system next year to encourage technology and farming methods that remove CO2 from the atmosphere as a first step towards creating a regulated market for carbon removals credits.

    The Commission also proposed rules to clamp down on environmental crime, with tougher prison terms and by classing illegal timber trade and illegal ship recycling as such offences.

    Simone Tagliapietra, senior fellow at think tank Bruegel, said Wednesday’s proposals addressed “major stumbling blocks in the EU decarbonisation pathway”.

    (Reporting by Kate Abnett; Editing by Barbara Lewis and Alexander Smith)

    By Kate Abnett

    BRUSSELS (Reuters) -European Union policymakers on Wednesday set out a second set of proposals to cut emissions across its economy this decade and to put it on track for net zero greenhouse gas output by 2050.

    In July, the 27-country bloc became the first of the world’s major emitters to map out a detailed plan to meet its climate https://www.reuters.com/business/environment/wrapup-eu-launches-big-climate-plan-our-children-grandchildren-2021-07-14 targets with legislative proposals including bigger carbon markets and a phase-out of combustion engine car sales.

    The European Commission proposed a second, smaller set of regulations on Wednesday, which is focussed on buildings, methane emissions and natural gas.

    Taken together, the measures aim to ensure the EU – the world’s third-largest emitter – meets its goal to cut net greenhouse gas emissions 55% by 2030, from 1990 levels. By 2019, EU emissions were 24% lower than in 1990.

    “Europe needs to turn the page on fossil fuels and move to cleaner energy sources. This includes replacing fossil gas with renewable and low carbon gases,” EU climate policy chief Frans Timmermans said.

    Each proposal faces months of tough talks between member states and the European Parliament before becoming law, with countries split over issues such as the role of gas in the transition and how to help fossil fuel-dependent communities.

    The measures proposed on Wednesday include a reform of EU gas markets, which aims to integrate low-carbon gases such as hydrogen into the network, but did not offer the firm phase-out plan for fossil gas that campaigners have called for.

    MISSED MOMENT ON METHANE?

    Europe’s natural gas consumption will need to drop in the coming decades to meet climate goals. For now, gas provides around a quarter of EU energy – meaning countries are exposed to volatile prices, which have hit record highs in recent months.

    The Commission also proposed a system to allow countries to jointly buy gas to form strategic reserves, which states including Spain have said would help them to secure supply.

    And Brussels laid out its first legislation to tackle emissions of methane, a potent planet-warming gas.

    This proposal would force oil and gas operators in the EU to find and fix leaks of methane in their infrastructure, though it did not extend the rules to cover the companies abroad that supply most of Europe’s gas.

    “We have health and environmental rules for other imports, so why not natural gas?” said Jill Duggan, executive director of the Environmental Defense Fund Europe.

    “Cutting methane pollution is our best, fastest opportunity to slow the rate of warming… the new EU plan fails to seize the moment.”

    A third proposal aimed at buildings would require EU countries to renovate millions of properties this decade to save energy.

    Roughly 85% of Europe’s buildings are expected to be standing in 2050. Most are heated by fossil fuels and have a poor energy performance, meaning widespread renovations are needed to bring them into line with the EU’s net zero goal.

    To help offset the emissions that cannot easily be cut, Brussels said it would create a system next year to encourage technology and farming methods that remove CO2 from the atmosphere as a first step towards creating a regulated market for carbon removals credits.

    The Commission also proposed rules to clamp down on environmental crime, with tougher prison terms and by classing illegal timber trade and illegal ship recycling as such offences.

    Simone Tagliapietra, senior fellow at think tank Bruegel, said Wednesday’s proposals addressed “major stumbling blocks in the EU decarbonisation pathway”.

    (Reporting by Kate Abnett; Editing by Barbara Lewis and Alexander Smith)

    Related Posts
    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 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

    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 PostThe Mexican town where making Christmas baubles is a way of life
    Next Top Stories PostSoccer-Ramsey and Watkins give Villa 2-0 win at Norwich

    More from Top Stories

    Explore more articles in the Top Stories category

    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

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    View All Top Stories Posts