Putin: Istanbul talks to remain bilateral between Russia and Ukraine
Russian President Vladimir Putin told US President Donald Trump during a phone call that the peace negotiations held in Istanbul will remain bilateral...
The European Commission has proposed an amendment to the EU Climate Law aimed at reducing net greenhouse gas emissions 90% by 2040, compared with 1990 levels.
"The EU is currently on track to meet its next target of 55% reduction by 2030. The new proposal builds on this legally binding goal and sets out a more pragmatic and flexible way to reach the 2040 target. The proposed 2040 climate target takes into account the current economic, security and geopolitical landscape," - the Commission said in its statement.
A large majority of Europeans continue to view climate change as a serious global threat, with 85% of citizens identifying it as a major problem. 81% support the EU's goal of reaching climate neutrality by 2050, according to a recent survey.
Under the plan, member states would be granted more flexibility to achieve the climate targets. Currently, they have only been able to count domestic greenhouse gas reductions, but from 2036, the proposal allows carbon credits from non-EU countries to count for up to 3% of the overall 90% reduction compared to 1990 levels.
"With our 2040 target, we are staying the course on a clean transition. We have a clear plan to make it work: a strong enabling environment, the Clean Industrial Deal, and three impactful flexibilities. This framework provides industry and member states with clear direction and supports their investment strategies, while keeping Europe firmly on track to achieve climate neutrality by 2050," - stated European Commissioner for Climate Action, Net-Zero, and Clean Growth, Wopke Hoekstra.
He added that it will serve as an instrument in the EU’s international climate diplomacy, supporting emissions reductions and the development of carbon markets under the Paris Agreement.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Global temperatures in 2024 exceeded the crucial 1.5°C threshold above pre-industrial levels for the first time, marking a serious warning for the world’s climate goals under the Paris Agreement, scientists said.
Wildfires and a severe heatwave sweeping across Europe have claimed the lives of two people in Spain and another two in France, while also causing the shutdown of a nuclear reactor in Switzerland.
Azerbaijan, Kazakhstan and Uzbekistan have established a joint venture to implement the Green Energy Corridor: Azerbaijan–Central Asia project aimed at building infrastructure for clean energy transmission and strengthening a regional energy cooperation.
A Clean Energy Centre will be officially launched during the 17th Economic Cooperation Organization (ECO) Summit, to be hosted by Azerbaijan this week, announced Asad M. Khan, Secretary General of the ECO.
The European Union plans to cut greenhouse gas emissions by 90% by 2040 and, for the first time, allow limited use of foreign carbon credits to meet the target.
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