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☆ EU Parliament passes bill hiking renewable energy targets
▼ + stars: | 2023-09-12 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

The law significantly raises the EU's renewable energy targets, requiring 42.5% of EU energy to be renewable by 2030, replacing a current 32% target for that date. It faced a tough passage through negotiations among EU countries' governments, and only secured support after France won carve-outs for nuclear energy - which is low-carbon, but not renewable. EU countries and lawmakers had negotiated a deal on the renewable energy law in March which was supposed to be final, but was held up by countries seeking greater recognition of nuclear power. A Commission spokesperson said on Tuesday it was aware of the difficulties and was in touch with renewable energy manufacturers to discuss possible solutions. Europe got 22% of its energy from renewable sources in 2021, the latest year for which official EU data are available.

Persons: Pascal Rossignol, Markus Pieper, Pieper, Kate Abnett, Ed Osmond, David Evans Organizations: REUTERS, Rights, Union, France, European, EU, Thomson Locations: Bevillers, France, Rights BRUSSELS, EU, Brussels, China, Europe

Moscow aims to disrupt Ukraine's ability to export grain to world markets with a sustained campaign of attacks targeting Ukrainian Danube ports, and has attacked the port of Izmail four times this week, Ukrainian officials say. Across from Izmail, pieces apparently from a drone were found near the Romanian village of Plauru, Romanian Defense Minister Angel Tilvar said Wednesday. “In the first phase (of the war) things were calmer, but now it has come to our territory,” she said. “We are worried because nobody can guarantee that (a drone) won’t fall on our side of the river,” he said. Beyond trying to calm us down, the authorities can’t do much about it.”___Stephen McGrath reported from Sighisoara, Romania.

Persons: Angel Tilvar, Tilvar, Daniela Tanase, “, Klaus Iohannis, Iohannis, Mircea Franc, he’s, ”, Jens Stoltenberg, ” Stoltenberg, ” ___ Stephen McGrath, Lorne Cook Organizations: Romanian, European Union, Associated Press, Romania's Defense Ministry, EU, NATO Locations: BUCHAREST, Romania, Ukraine, Russian, NATO, Moscow, Izmail, Romanian, Plauru, European, Bucharest, Chilia Veche, Ukraine's, Danube Delta, Russia, ”, Sighisoara, Brussels

Demand for carbon credits is on track to fall in 2023, according to two of the top data providers. Nestle, which has also not disclosed its spending on offsets, said it would stop using carbon offsets and was seeking other routes to net zero. Until this year, the voluntary carbon market had grown as more companies came under shareholder pressure to adopt net zero policies. SECOND THOUGHTSFor the carbon markets, another issue is that regulators and carbon market advisory bodies are limiting the scope of their use by companies. "You need to reduce emissions and that's how you will be judged in the market when you're disclosing your carbon emissions."

Persons: Elizabeth Frantz, Gucci, Renat Heuberger, Stephen Donofrio, certifier Verra, EasyJet, Jane Ashton, Ashton, Naomi Swickard, Verra, Zimbabwe's, Steve Wentzel, Wentzel, Kristian Rönn, Rob Hayward, Susanna Twidale, Sarah McFarlane, Barbara Lewis Organizations: New England Forestry Foundation, REUTERS, Nestle, Reuters, Marketplace, Shell, Boston Consulting, Offset, GEO, Verra, Carbon, Investments, United Nations, Voluntary, Initiative, EU, KLM, Companies, Thomson Locations: Hersey, New Hampton , New Hampshire, U.S, Kenya, Pole, Stockholm, Ghana

☆ Dutch pick for EU climate job to face tough hearing
▼ + stars: | 2023-08-25 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

Hoekstra needs to win a positive assessment from the EU Parliament and pass a potentially close vote in the assembly with majority support. If appointed, Hoekstra is expected to assume responsibility for climate change policies in the EU Commission. He belongs to the Dutch Christian-Democratic CDA party, part of the European People's Party group in the EU Parliament. Bas Eickhout, a Green EU lawmaker, said Hoekstra would need to prove his commitment to Europe's climate change agenda. He'll have a tough time convincing the European Parliament that he's the right man for the job," said Paul Tang, a Dutch Socialist member of the EU Parliament.

Persons: Wopke Hoekstra, Hoekstra, Frans Timmermans, Timmermans, Maros Sefcovic, Eickhout, Hoekstra's, Paul Tang, Kate Abnett, Bart Meijer, Giles Elgood Organizations: EU, Parliament, Dutch Christian, Democratic CDA, European People's Party, EPP, EPP Group, Green Deal, European, Socialist, Dutch Finance, Socialists, Thomson Locations: BRUSSELS, Netherlands, Dutch, Europe, EU, The Hague, New EU, Bas, Southern Europe, Spain, Italy

☆ Italy PM Meloni takes 'full responsibility' for bank tax
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jonathan Ernst/File PhotoMILAN, Aug 14 (Reuters) - Italian Prime Minister Giorgia Meloni on Monday took "full responsibility" for last week's shock decision to impose a one-off bank tax that has been blamed for causing lasting damage to her government's credibility with financial markets. In comments to Italian newspapers Corriere della Sera, la Repubblica and La Stampa, Meloni said the 40% levy had no punitive intent. The new tax targets a rise in profits banks have derived from higher rates. Sources told Reuters when the measure was announced the Treasury expected to draw less than 3 billion euros ($3.3 billion) from the tax. With Economy Minister Giancarlo Giorgetti noticeably absent from the press conference to announce the tax, Meloni said he had been informed about the decision.

Persons: Giorgia Meloni, Joe Biden, Jonathan Ernst, MILAN, Meloni, Giancarlo Giorgetti, France's Marie Le Pen, Claudia Cristoferi, Federico Maccioni, Valentina Za, Bernadette Baum Organizations: Italy's, U.S, White, REUTERS, Italian, della, Repubblica, la Repubblica, Reuters, Treasury, Forza Italian, Thomson Locations: Washington , U.S, La, la

☆ Cuba condemns EU Parliament resolution calling for sanctions against president
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

HAVANA, July 12 (Reuters) - Cuba's National Assembly said on Wednesday it "strongly condemns" a resolution by the European Parliament, which criticized the country's human rights record and called for EU sanctions against Cuban President Miguel Diaz-Canel and other top officials. "The European Parliament lacks the moral, political and legal authority to judge Cuba," Cuba's parliament said in a statement. The European Parliament resolution proposes "autocratic regimes should not participate in such summits" and strongly condemns Cuba's human rights record, saying this could jeopardize a 2016 cooperation deal between Cuba and the EU, its top trade partner. The European Parliament resolution said it "deeply deplores" this comment. In May, Borrell said the EU Special Representative for Human Rights, Eamon Gilmore, will visit the island in November to evaluate the consequences of the 2021 protests.

Persons: Miguel Diaz, Fidel Castro's, Josep Borrell, Borrell, Eamon Gilmore, Nelson Acosta, Sarah Morland, Rosalba O'Brien Organizations: National, Cuban, EU, of, Caribbean, Communist, Cuba's National Assembly, Human Rights, Thomson Locations: HAVANA, Cuba, America, Caribbean, Brussels, Caribbean States, United States

☆ EU Parliament backs landmark law to restore Europe's nature
▼ + stars: | 2023-07-12 | by ( Caolán Magee | ) edition.cnn.com time to read: +3 min

CNN —The European Parliament on Wednesday voted in favor of legally binding targets to protect and restore nature in the European Union, despite strong opposition from some policymakers. The flagship EU nature law will also require countries to introduce measures to restore nature on a fifth of their land and sea by 2030. It is the first major piece of legislation to protect biodiversity in the EU in the last 30 years, according to Greenpeace. Swedish climate campaigner Greta Thunberg reacts as she attends a voting session on EU nature restoration law during a plenary session at the European Parliament in Strasbourg. Frederick Florin/AFP/Getty ImagesEU lawmakers and member countries will now negotiate the final text, aiming for a deal before EU Parliament elections in 2024.

Persons: what’s, Špela, Manfred Weber –, Manfred Weber, Mykhaylo Palinchak, ”, Ireland’s Frances Fitzgerald, “, ” Fitzgerald, Greta Thunberg, Frederick Florin Organizations: CNN, European Union, Greenpeace, Greenpeace’s, European People’s Party, EPP, EU Parliament’s, Twitter, Socialists, Democrats, Greens, Getty, European Environment Agency Locations: EU, Greenpeace’s Central, Eastern Europe, Europe, Swedish, Strasbourg, AFP

Lawmakers and member countries will now negotiate the final text, aiming for a deal before EU Parliament elections in 2024. REUTERS/Pascal Rossignol"Restoring nature brings numerous benefits to farmers," EU lawmaker Mohammed Chahim said. Lawmakers and scientists have rejected the EPP's claims, accusing the group of using misinformation to court votes ahead of EU Parliament elections next year. "This is a law on behalf of nature, not against any person whatsoever." EU lawmakers voted earlier this week to weaken another law to cut pollution from farms.

Persons: Cesar Luena, Manfred Weber, Remy, Pascal Rossignol, Mohammed Chahim, Luena, Greta Thunberg, Kate Abnett, Marine Strauss, Bart Meijer, Charlotte Van Campenhout, Mark Potter, Devika Syamnath, Ed Osmond Organizations: European, European People's Party, EPP, EU Parliament's, REUTERS, EU, Thomson Locations: BRUSSELS, Europe, Neuville, France, Brussels

☆ EU nature law on knife-edge after losing first vote
▼ + stars: | 2023-06-27 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

The bill to revive ailing environments - which aims to restore nature on 20% of EU land and sea - is facing a political backlash from the European People's Party group in the EU Parliament, which has called for its rejection. In a tight vote, 44 lawmakers voted for the law and 44 against, meaning it failed to win majority support. The bill now heads to a full EU Parliament vote on July 11, where failure to win majority support would kill off the proposal. Supporters from other parliament groups said they would try to club together to find a compromise deal ahead of the full parliament vote. Despite that, EU countries agreed a position on the nature bill last week - weakening some targets and asking for more EU money to support farmers in restoring nature, but backing its overall aims.

Persons: Anne Sander, Cesar Luena, parliament's, Kate Abnett, Bart Meijer, Frank Jack Daniel, Conor Humphries Organizations: REUTERS, Union, European People's Party, European Commission, EPP, Thomson Locations: Hymettus, Athens, Greece, BRUSSELS, Brussels, Ireland, Belgium

☆ Countries back weakened EU nature law, seek more biodiversity funding
▼ + stars: | 2023-06-20 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

Germany, Lithuania and Romania were among countries that had raised concerns over funding. POLITICAL PUSHBACKEU climate chief Frans Timmermans told reporters he was not worried by countries' tweaks to make the law more flexible. But he criticised lawmakers in the European Parliament who are trying to block the law and are refusing to negotiate. EU countries and the European Parliament must both approve the final bill. A motion by EU lawmakers to reject the entire proposal last week failed by a razor-thin margin, ahead of a full EU Parliament vote in July.

Persons: Eamon Ryan, Christianne van der Wal, Frans Timmermans, Timmermans, Kate Abnett, Jonathan Oatis, Gareth Jones Organizations: Sierra, EU, Union, European Commission, Reuters, EU Parliament's, Thomson Locations: Andalusia, Nieves, Brussels, LUXEMBOURG, Germany, Lithuania, Romania, Ireland, Netherlands

☆ EU countries fail to agree energy reforms after coal subsidy clash
▼ + stars: | 2023-06-19 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

EU energy ministers meeting in Luxembourg ended talks without a joint stance on the reforms that seek to avoid a repeat of last year's energy crisis, when record-high gas prices left consumers with soaring energy bills. EU countries' ambassadors will take up the negotiations, aiming for a deal this month. Asked about the coal proposal, Swedish Energy Minister Ebba Busch said ensuring Poland, which borders Ukraine, had stable power generation could help it support Ukraine with back-up power. Poland, which gets around 70% of its power from coal, could prolong its support scheme for coal plants, potentially until 2028, under the proposal. EU countries must negotiate the final power market upgrade with the EU Parliament, with the aim to pass the law before EU parliamentary elections next year.

Persons: Ebba Busch, Anna Moskwa, Robert Habeck, Kate Abnett, Tassilo Hummel, Sudip Kar, Giles Elgood, Emelia, Barbara Lewis, Marguerita Choy Organizations: Union, Swedish Energy, Reuters, European Commission, Climate, EU, Thomson Locations: Poland, Belgium, Germany, LUXEMBOURG, Luxembourg, Sweden, Ukraine, Ukrainian, Austria, Greece, Spain

☆ Late push for coal subsidies upsets EU deal on energy reforms
▼ + stars: | 2023-06-19 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

EU countries' energy ministers meet in Luxembourg on Monday to agree a joint stance on new EU power market rules, aimed at expanding low-carbon power and avoiding a repeat of last year's energy crisis, when record-high gas prices left consumers with soaring energy bills. Poland - which could prolong its support scheme for coal plants beyond 2025 under the proposal - said last week the idea had majority support. Some EU countries say they need more flexibility in how fast they exit the fuel and support new industries in communities that have long relied on coal sector jobs. The official said they expected ministers to approve the power market reforms - but that it was not clear if the coal carve-out would make it into the final deal. Once EU countries agree their stance, they must negotiate the final power market upgrade with EU Parliament, aiming to pass the law before EU Parliament elections next year.

Persons: Kate Abnett, Giles Elgood Organizations: Union, EU, Reuters, EU Parliament, Thomson Locations: LUXEMBOURG, Luxembourg, Sweden, Poland

☆ France makes high-profile push to be the A.I. hub of Europe setting up challenge to U.S., China
▼ + stars: | 2023-06-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Macron told CNBC France will "invest like crazy" into A.I. "I think we are number one [in AI] in continental Europe, and we have to accelerate," French President Emmanuel Macron told CNBC's Karen Tso last week. watch nowWhile the U.S is seen as the leader in AI by many measures, France hopes to catch up. Underscoring the potential and hype of AI developments, four-week-old French startup Mistral AI raised 105 million euros to fund the company. I think we need a global regulation," Macron said.

Persons: Emmanuel Macron, Macron, Nathan Laine, Karen Tso, OpenAI's, Bruno Le Maire, Jean, Noel Barrot, Paris, Anton Dahbura, Rishi Sunak, Dahbura, … Organizations: Viva Tech, CNBC France, Bloomberg, Getty, PARIS —, French Finance, Digital, CNBC, European Union, Johns Hopkins Institute, Autonomy, Microsoft, OpenAI, Nvidia, Global, EU, Organisation for Economic Co Locations: A.I, PARIS — France, Europe, China, U.S, France, Germany, Britain

☆ France sees global A.I. regulation ideas by the end of this year, wants to work with U.S. on tech laws
▼ + stars: | 2023-06-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

I think we need a global regulation," Macron told CNBC's Karen Tso on the sidelines of the event. lawFrance's call for global AI regulation comes as the European Union closes in on passing an unprecedented law called the EU AI Act. watch nowFrance, which has traditionally taken a pro-regulatory stance, has expressed concern that the EU law around AI has gone to far. The U.S. has not yet come up with any kind of framework for AI regulation. France's top politicians who spoke to CNBC discussed their focus for AI regulation.

Persons: Emmanuel Macron, ChatGPT, Bruno Le Maire, Jean, Noel Barrot, Macron, Karen Tso, Barrot, …, Le Maire Organizations: PARIS —, CNBC, U.S, European Union, Finance, Digital, Wednesday, Organisation for Economic Co, Development, EU A.I, EU, Nvidia Locations: China, France, Paris, U.S, Germany, EU, VivaTech, Europe

☆ Centre-right lawmakers quit EU talks on nature law
▼ + stars: | 2023-05-31 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, May 31 (Reuters) - The biggest lawmaker group in the European Parliament on Wednesday walked out of negotiations on a landmark EU law to protect nature, dealing another blow to the contested proposal. French President Emmanuel Macron has suggested a pause on new EU environment legislation, while Belgian Prime Minister Alexander De Croo questioned whether the nature law is needed. Meanwhile, the European People's Party - EU Parliament's largest lawmaker group - has called to reject it. The nature law needs approval from both EU countries and the EU Parliament, which is scheduled to vote on it in July. So far, EU countries have not attempted to block the proposal outright, but are negotiating amendments.

Persons: Emmanuel Macron, Alexander De Croo, Christine Schneider, Jutta Paulus, Kate Abnett, Sriraj Organizations: Wednesday, European Commission, Belgian, European People's Party, EU Parliament's, EPP, EU, Thomson Locations: BRUSSELS, Brussels

SummarySummary Companies OpenAI CEO reverses earlier threat to leave EuropeSays had productive week of conversations about regulating AIEU lawmakers were critical about OpenAI's threat regionMay 26 (Reuters) - OpenAI has no plans to leave Europe, CEO Sam Altman said on Friday, reversing a threat made earlier this week to leave the region if it becomes too hard to comply with upcoming laws on artificial intelligence. "We are excited to continue to operate here and of course have no plans to leave," Altman said in a tweet on Friday. His threat of quitting Europe had drawn criticism from EU industry chief Thierry Breton and a host of other lawmakers. He called his tour a "very productive week of conversations in Europe about how to best regulate AI!" OpenAI first clashed with regulators in March, when Italian data regulator Garante shut the app down domestically, accusing OpenAI of flouting European privacy rules.

☆ EU Parliament delays renewable energy vote after late backlash
▼ + stars: | 2023-05-22 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, May 22 (Reuters) - The European Parliament has delayed a planned vote to approve new EU renewable energy targets, after France and other countries lodged last-minute opposition to the law last week, according to an internal email seen by Reuters. The vote in the Parliament's energy committee had been due to take place on Tuesday. The European Union is attempting to finalise a key pillar of its climate agenda - a law containing a binding goal for the EU to get 42.5% of its energy from renewable sources by 2030. Parliament had been due to hold a first vote on Tuesday, followed by a final vote in July. The EU Parliament and EU countries' approval of the law was supposed to be a formality, after negotiators from both sides agreed what was supposed to be a final deal earlier this year.

☆ Italian court agrees to extradite EU lawmaker to Belgium
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

MILAN, May 16 (Reuters) - An Italian court on Tuesday agreed to extradite to Belgium an EU lawmaker under investigation in a cash-for-influence corruption scandal at the European Parliament, one of his lawyers said. Andrea Cozzolino, European parliamentarian for Italy's centre-left Democratic Party, has been under house arrest in the southern city of Naples since Feb. 10, after he was detained on the basis of a European warrant issued by Belgium. The 60-year-old lawmaker has denied any wrongdoing. A court in Naples ruled on Tuesday that Cozzolino could be sent to Belgium. Panzeri, who was arrested in Brussels in December, has agreed to cooperate with investigations in exchange for a reduced sentence.

The proposal aims to increase both demand for and supply of sustainable aviation fuels (SAF), which have net-zero CO2 emissions or low carbon emissions. The proposal sets binding targets for aviation fuel suppliers to ensure that all fuel made available to aircraft operators at EU airports contains a minimum share of SAFs from 2025, with the target increasing to 2050. In the nearer term, sustainable fuel is one of the few options to reduce air travel's carbon footprint. Airlines are set to receive around 2 billion euros in funding from the EU carbon market to help them switch to SAF. Biofuels can count towards the main SAF targets, so long as they comply with the EU's biomass sustainability criteria.

☆ EU parliament backs world's first comprehensive rules for cryptoassets
▼ + stars: | 2023-04-20 | by ( Huw Jones | ) www.reuters.com time to read: +1 min

LONDON, April 20 (Reuters) - The European Parliament on Thursday overwhelmingly backed the European Union's first set of rules to regulate cryptoasset markets. Parliament voted by 517 in favour and 38 against to approve the world's first comprehensive set of regulations for issuing and trading cryptoassets such as bitcoin. "This regulation brings a competitive advantage for the EU," said Stefan Berger, the lawmaker who steered the rules through parliament. "The European crypto-asset industry has regulatory clarity that does not exist in countries like the U.S.," Berger said. Parliament also backed new rules for tracing transfers of cryptoassets like bitcoins and electronic money tokens.

☆ EU lawmakers approve world's first comprehensive framework for crypto regulation
▼ + stars: | 2023-04-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Markets in Crypto-Assets (MiCA) is the first attempt at creating comprehensive regulation for digital assets in the EU. Lawmakers in the European Parliament have approved the world's first comprehensive package of rules aimed at regulating the cryptocurrency industry. In a vote Thursday, the EU Parliament voted 517 in favor and 38 against to pass the Markets in Crypto Act, or MiCA. The legislation, which seeks to reduce risks for consumers buying crypto assets, will mean providers can become liable if they lose investors' crypto-assets. The rules will impose a number of requirements on crypto platforms, token issuers and traders around transparency, disclosure, authorization, and supervision of transactions, the EU Parliament said in a statement Thursday.

☆ EU lawmakers back ban on goods linked to deforestation
▼ + stars: | 2023-04-19 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

The rules aim to eliminate deforestation from the supply chains of a range of everyday items sold in Europe. It will apply to soy, beef, palm oil, wood, cocoa, coffee, rubber, charcoal, and derived products including leather, chocolate and furniture. Indonesia and Malaysia, the world's largest palm oil exporters, have accused the EU of blocking market access for their palm oil. The EU is the world's third-largest palm oil importer. The EU Parliament approved a deal on the rules, which was agreed by EU negotiators last year.

☆ Europe approves its $47 billion answer to Biden's CHIPS Act — here's everything that's in it
▼ + stars: | 2023-04-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The initiative, dubbed the European Chips Act, seeks to help the bloc compete with the U.S. and Asia on tech, and secure control over a critical bit of technology behind the world's electronics products and devices. What's in the Chips Act? The European Chips Act is a massive, 43-billion-euro ($47 billion) package of public and private investments that aims to secure its supply chains, avert shortages of semiconductors in the future, and promote investment into the industry. The Chips Act has three main aims: Building large-scale capacity and innovation. "The Chips act puts Europe in the first line of cutting-edge technologies which are essential for our green and digital transitions."

☆ EU Parliament backs overhaul of Europe's biggest climate policy
▼ + stars: | 2023-04-18 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

Europe's carbon market forces power plants and factories to buy CO2 permits when they pollute. It has slashed those sectors' emissions by 43% since 2005, but is facing a revamp to hit more ambitious EU climate change targets. Under the upgrade, factories will lose the free CO2 permits they currently receive by 2034, and shipping emissions will be added to the CO2 market from 2024. EU carbon permits were trading at around 94 euros per tonne on Tuesday, having nearly quadrupled in value since the start of 2020. Lawmakers also backed plans to launch a new EU carbon market covering emissions from fuels used in cars and buildings in 2027, plus a 86.7 billion-euro EU fund to support consumers affected by the costs.

☆ EU lawmakers call for political attention to powerful AI
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: 1 min

April 17 (Reuters) - Legislators from the European Parliament said on Monday that political attention needed to be focused on powerful artificial intelligence (AI), agreeing with an open letter signed by academics, experts and business leaders including Elon Musk on AI regulation. The EU Parliament called on European Commission President Ursula Von Der Leyen and U.S. President Joe Biden to convene a global summit on AI. Reporting by Akanksha Khushi in Bengaluru; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

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