Free Trial

EU Environment Ministers Agree 2035 for Zero Emission Cars

OIL PRODUCTS

EU environment ministers struck a deal this morning after long discussions that from 2035 onwards, only new cars and vans with zero CO2 emissions will be permitted.

  • "The Council also agreed to introduce a 100% CO2 emissions reduction target by 2035 for new cars and vans," the ministers said in a statement.
  • A final compromise must now be negotiated with the European Parliament — which also supports a complete ban on the sale of combustion engine vehicles as of 2035. It will from the ground work for the blocs Fit for 55 landmark greenhouse gas reduction package.
  • Italy, Portugal, Slovakia, Bulgaria and Romania had initially pushed for a delay in the ban but eventually conceded.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.