In addition to a stop date, the parties agreed to launch initiatives to support employment in the city of Esbjerg, where most jobs in the oil industry are located. Furthermore, it will be investigated whether the empty oil and gas fields can be utilised for storage of carbon dioxide in the future. CO2 storage is one of the areas in which the government is investing heavily through its climate policy, with the national research centre Geus previously venturing that it is possible to re-use some of the emptied pockets in the North Sea. … [Read more...] about In ‘Historic Decision’, EU’s Largest Oil Producer Stops New Exploration in North Sea
Volkswagen is unlikely to meet EU emissions targets until 2022, its chief executive said Friday, which could result in hefty fines.In an interview with German business weekly WirtschaftsWoche, Herbert Diess said the VW group was working "flat out to get as close as possible" to selling enough environmentally friendly vehicles to reach the bloc's climate targets."Next year it will be easier, and from 2022 we shouldn't have any more problems achieving the fleet targets," he said.Under new European Union legislation that came into force this year, manufacturers' fleets of newly-sold cars must emit on average less than 95 grammes of CO2 per kilometre, on pain of fines from 2021.To meet the goal, carmakers across the industry must massively increase their sales of electric and hybrid cars.If they fall short of the carbon targets, carmakers risk fines that could run into hundreds of millions of euros (dollars).Diess said the VW group -- which includes the Audi, Porsche, Skoda and Seat brands … [Read more...] about VW set to miss EU emissions targets: CEO
Where will the cash go? The plan will see money funneled into 10 main areas. These include: road and rail networks, renewable energy, cutting greenhouse gas emissions, improving waste and water management, the renovation of public buildings and the roll-out of broadband. … [Read more...] about EU set to invest €9 billion in Balkans
COVID-19 and labor protection The pandemic caused by the novel coronavirus has disproportionately affected daily wage and factory workers in Pakistan as they are not protected by contracts. Labor union leaders believe that exporters benefiting from GSP+ should put in place greater safeguards for workers in emergency situations. … [Read more...] about Are Pakistan’s workers benefiting from EU’s GSP+ scheme?
"Foreign companies want to know more about the concept and implementation plans," said George Lau, vice-president of the chamber, suggesting that an English-version official website would be good for foreign investors to participate in the Greater Bay Area's development. … [Read more...] about EU business official lauds China’s opening-up