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Home Business News Europe vows to work against fossil-fuel investments globally

Europe vows to work against fossil-fuel investments globally


The EU’s executive arm is drafting a law, to be unveiled by June, that would start penalising imports of certain goods from countries with weak pollution rules, thereby helping to protect the competitiveness of local producers abiding by stricter standards. This push to export climate standards got a boost last week when President Joe Biden moved to restore the US as a member of the Paris climate accord, which seeks to limit global temperature increases to 2 degrees Celsius through steep reductions in greenhouse gas emissions.

The Biden administration is planning to host world leaders in a climate summit on Earth Day in April, a sign of the new president’s commitment to strengthen the Paris agreements. Biden, who has signaled he…



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