The EU's green rules can change the climate.

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EU's Economical Updates Jan-08, 2022, By Forex Forum​


The EU's green rules can change the climate.

Investors' enthusiasm for financing the green transition is growing—just look at the surge of interest in the electric-car industry. Tesla's shares rose by 50% in 2021; those of catl, China's battery giant, rose by 68%. Yet if you look more closely, you will find huge problems. If the world is to reach net-zero emissions by 2050, investment will need to more than double, to $5trn a year. And fund management is rife with "green-washing". Sustainability-rating schemes have proliferated but are wildly inconsistent, while many funds mislead investors about their green credentials.

To the rescue has come the European Union, which has devised a new labelling system, or taxonomy, that sorts the economy into activities it deems environmentally sustainable, from the installation of heat pumps to the anaerobic digestion of sewage sludge. The idea is that funds and firms will use this to disclose what share of their activities qualify as green, and that clarity will help unleash a flood of capital from markets. The proposals have been in the works for years, and on December 31st the European Commission circulated its latest thinking.

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China looks in a great position in the coming years with the latest technology availability and rise in use of electric vehicles. If the trend continues, it will help countries all over the world to contribute to make environmentally friendly policies.
 
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