Politico reported last week that the European Commission wants to keep the 90% emissions-cutting 2040 target by changing how countries calculate their progress. The EU – reeling from the backlash to its costly green policies – is proposing purchasing international carbon credits to meet its 2040 target of cutting its carbon emissions by 90%. The Telegraph reported that the UK Government plans to rejoin the EU’s Emissions Trading Scheme carbon market that it left when Brexit took effect at the end of 2020.
A green-obsessed Europe and UK, busy deindustrialising with self-inflicted high energy prices, are faced with new challenges. They are intent on carrying on the Ukraine proxy war against Russia “to the last Ukrainian” in contrast with President Trump’s refusal to fund the protracted conflict and his efforts to negotiate peace. Germany is seeking to fund its defence requirements by exempting defence spending from constitutional fiscal constraints now that the trans-Atlantic alliance is fraying.
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