EU recommends ambitious 2040 climate target, goes light on farming
The European Commission recommended that the EU slash net greenhouse gas emissions by 90% by 2040, an ambitious target that will test political appetite for the region’s fight against climate change ahead of EU elections. To comply with the overall climate goal, in the earlier drafts agriculture would need to cut non-CO2 emissions 30% by 2040 from 2015 levels, it was removed from the final draft.
EU Lawmakers Agree to Regulate ESG Ratings Providers
Lawmakers in the European Parliament and Council announced that they have reached a provisional agreement on a proposal to regulate ESG ratings providers.
The new regulation would require ESG ratings providers established in the EU to obtain an authorization from ESMA, and those established outside the EU, in order to operate in EU, will require to be either endorsed by an EU-authorized provider, recognized based on quantitative criteria or subject to an equivalence decision.