NEW: The EU will announce a big bet on electrification next week to help it whether future energy crises.
The draft includes floating targeted amendments to ensure electricity is taxed less than fossil fuels, and doubling down on heatpumps.
Read more here 👇
www.bloomberg.com/news/article...
The EU introduced a gas price cap that was never triggered during the energy crisis.
Now Commission President Ursula von der Leyen is looking to bring it back amid the Iran war and the growing calls to lower power bills.
Read more 👇
www.bloomberg.com/news/article...
The EU made a “strategic mistake” in turning its back on nuclear, Ursula von der Leyen said in thinly-veiled criticism of Germany’s decision to close its reactors.
When that decision was made after Fukushima in 2011, VDL was German labour minister.
Read more 👇
www.bloomberg.com/news/article...
Precisely!
Indeed! But doesn't change the macro EU challenge in the short term
It's been one hell of a week for EU energy markets.
Even before the Iran war, energy was a major concern in Europe and now that weakness has been brutally exposed once again.
Read the weekend story from myself and @albertonardelli.bsky.social 👇
www.bloomberg.com/news/article...
NEW: The IEA is ready to help stabilize the global oil market in the wake of the Iran conflict, noting that member countries hold over a billion barrels in emergency stockpiles, according to a document prepared by the agency and seen by Bloomberg News
www.bloomberg.com/news/article...
Is there some hope on the horizon for open-air swimming in Brussels with the formation of the new Brussels government?
It gets a mention in the deal, at least: Brussels will continue deliberations on "several" projects.
www.lesoir.be/728689/artic...
The EU must resist China’s pull in clean technologies, even as it confronts the reality that deteriorating relations with the US may be “permanent,” @wopkehoekstra.ec.europa.eu told Bloomberg 👇
www.bloomberg.com/news/article...
This feels like a tipping point: European EV sales overtake petrol for the first time
www.ft.com/content/1d3b...
The EU is set to propose softening emissions rules for new cars, scrapping an effective ban on combustion engines following months of pressure from the automotive industry.
www.bloomberg.com/news/article...
NEW: The EU will propose measures to extend its carbon border levy, known as CBAM, to some assembled goods such as cars and washing machines to help close loopholes, according to a draft we've seen.
It will also create a new fund to help exporters. More below 👇
www.bloomberg.com/news/article...
NEW: The EU is weighing a five-year delay to its effective ban on the combustion engine after heavy pressure from some of the region’s biggest automotive countries.
More here 👇
www.bloomberg.com/news/article...
And so #COP30 has wrapped and so has our coverage.
Here's our last story all about how two weeks of frenzied negotiations over the planet’s faltering fight against climate change had come down to this: a pre-dawn battle over shifting away from fossil fuels.
www.bloomberg.com/news/feature...
🚨 SCOOP
After overnight talks, it seems a deal at COP30 is close
By @johnainger.bsky.social @jendlouhy.bsky.social
🎁🔗
www.bloomberg.com/news/article...
Brazil presented the #COP30 climate summit with a draft deal early Friday that omits any reference to exiting fossil fuels amid stiff resistance from producing countries, setting the stage for frantic final round of negotiations
More here 👇
www.bloomberg.com/news/article...
A fire erupted inside the packed United Nations climate summit in Belém, Brazil forcing a panicked evacuation of thousands of delegates just as negotiations reached their final hours
www.bloomberg.com/news/article...
Nations among the most vulnerable to the damage wrought by global warming have decried the recent memo by Bill Gates criticizing a “doomsday view of climate change”
More here 👇
www.bloomberg.com/news/article...
NEW: Turkey is set to host the flagship United Nations climate change conference next year, beating a rival proposal from Australia following a protracted contest between the two countries
We report the details here 👇
www.bloomberg.com/news/article...
We're into week 2 at #COP30.
Over the next few days we'll see whether support for a roadmap to transition away from fossil fuels can get enough support from countries, or be blocked by producer nations:
www.bloomberg.com/news/article...
UNFCCC's Simon Stiell demanded, in a letter seen by Bloomberg, that Brazilian authorities immediately develop a plan for addressing security lapses, soaring temperatures, flooding and other poor conditions at the #COP30 conference in the city of Belém
www.bloomberg.com/news/article...
#COP30 has begun in earnest and negotiators will now spend the next two weeks of climate talks in a game of chess.
Here are the key players:
www.bloomberg.com/news/article...
Brazilian President Lula foreshadowed a potential effort to move beyond the commitment countries made two years ago to “transition away from fossil fuels.”
"We need road maps," he told world leaders at the #COP30 leaders summit.
www.bloomberg.com/news/article...
In Dubai two years ago, countries reached a first-of-a-kind agreement to transition away from fossil fuels.
Yet none of the roughly 60 countries that have submitted an updated climate pledge since then have put in place targets to reduce oil and gas production.
www.bloomberg.com/news/article...
Join myself and key members of the Bloomberg News team covering #COP30 at the top of the hour 👇
EU energy ministers struck a deal on plans to ban all gas supplies from Russia by the end of 2027, as the bloc looks to definitively end its reliance on energy from Moscow.
Talks with parliament on the final outcome can now begin.
www.bloomberg.com/news/article...
❗️SCOOP: EU considering strict conditions such as tech transfers, joint ventures for Chinese investments in Europe in some key sectors, we’re told, as Europe increases pressure on Beijing to rebalance economic relations
- with @johnainger.bsky.social
www.bloomberg.com/news/article...
Nearly 200 countries are set to gather at the gates of the Amazon rainforest next month for #COP30
Here's how it could succeed or fail
www.bloomberg.com/news/article...
NEW: The EIB is exploring investing in #nuclear power on the continent for the first time in four decades as political opposition to the technology fades
www.bloomberg.com/news/article...
So sad :(