EU Agrees to Cut Emissions to Zero by 2050
The European Union agreed to cut its total emissions to net-zero by 2050 after ten hours of debate as Eastern European states demanded financial help to hit the target.
Reuters reported that one EU member state was left out of the agreement: Poland. Poland has opposed the ambitious emissions plan, saying it will cost too much to implement.
In October, Energy Minister Krzysztof Tchorzewski put the price tag of this transition to between $760 and $980 million, saying: “Of course, these costs would obviously be spread over years. But I treat it as a fantasy when someone says that Poland is able to reach the zero-emission goal by 2050.”
As a result, the EU agreed to let it off the hook for now on the promise the country will revisit the issue next June. The union also allowed the Czech Republic to include nuclear energy in its energy mix.
The agreement comes a day after the EU approved the net-zero emissions plan, which will cost it $111.7 billion. Dividing these costs among the members proved to be tricky as well as navigating between the demands of individual countries.
source: Financial Tribune
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