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European Commission announces Green New Deal

Thursday, 12 December 2019

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The European Union plans to eliminate its contributions to climate change by 2050. On Wednesday (11 December 2019), the European Commission's President Ursula von der Leyen unveiled a plan to zero out the EU's contributions to climate change and transform Europe’s economy. 

In addition to creating national climate and energy plans for each EU member state, the EU Green Deal strategy contains a total of 50 policy measures, including:

  • a legally binding target of reducing EU emissions to net zero by 2050; 
  • a carbon border tax to prevent companies from relocating outside the EU to avoid climate legislation; 
  • a €100 billion just transition fund to help spread the burden and help coal-reliant regions; and
  • a policy to not conclude any free trade agreement with a country that is not a sign...

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