Green deal sparks clash by EU as war squeezes energy

Bloomberg

European Union (EU) lawmakers sparred over how to design the bloc’s ambitious climate policies, underscoring the challenge of implementing binding climate-neutrality goals amid a war and unprecedented energy price spikes.
Some European Parliament members, predominantly in the Socialist, Liberal and Green political groups, are seeking to further toughen proposals by the European Commission, while others, led by Christian Democrats, urge caution to avoid excessive burden for the continent’s industry and citizens.
Ahead of votes scheduled for Wednesday, lawmakers are debating measures including the deepest-to-date reform of the EU emissions market, a new carbon border levy and a proposal to ban new combustion engine cars by 2035.
The so-called Fit for 55 package — put forward to enact the EU target to deepen greenhouse gas reductions to at least 55% by 2030 compared with 1990 levels — was proposed before Russian President Vladimir Putin invaded Ukraine. The war, which sparked an energy crisis, has left consumers and companies reeling from record power and gas bills.
“The war has only accentuated the importance of making the transition happen as quickly as possible,” EU climate chief Frans Timmermans told the parliament.
“Money spent on renewables in Europe is money that stays in Europe. Money spent on fossil fuels bought in Russia is money that disappears in Putin’s pockets.”