Star Bulk Carriers Corp. Announces That It Has Become a Signatory of the “Neptune Declaration on Seafarer Wellbeing and Crew Change” – Book Publishing Industry Today – EIN Presswire
Frustratingly, 2020 was the worst year on record for data breaches, signalling a seismic shift in consumer attitudes towards privacy,” —
Alastair Johnson, CEO & Founder of Nuggets
LONDON, UNITED KINGDOM, January 28, 2021 /EINPresswire.com/ — The ID2020 Alliance is delighted to welcome U.K.-based Nuggets as the newest member of its vibrant community. The Alliance is made up of public and private sector organizations who share a common commitment to good ID for all.
The Nuggets proposition could not be clearer, proclaiming boldly that “privacy is a fundamental human right” and signalling an immediate alignment with the ID2020 Manifesto – the statement of principles that guide the Alliance’s work.
“We are always excited to welcome organizations who so wholeheartedly embrace our values,” said ID2020 Executive Director, Dakota Gruener. “When we talk about complex issues, such as identity and data ownership, we know that transparency is essential to building trust – with customers, partners, and users. We could not be more excited to welcome Nuggets to the Alliance as we work together toward a future with good digital identity for all.”
Nuggets offers a robust decentralized self-sovereign ID and payments platform, that enables consumers to retain control of their personal information and businesses to protect their customer’s data. Their solution leverages biometrics for verification, strong customer authentication, and cryptographic proof of identity to facilitate customer onboarding (KYC & KYB), single sign-on with biometrics, omnichannel payments, age verification, contactless delivery and verified two-way communication transactions through a scalable, decentralized digital ID.
Founded in 2016 by Alastair Johnson and Seema Khinda Johnson, Nuggets is available in Europe and Australia and is expanding its platform into new verticals including financial services, which has been advanced by a significant partnership with LexisNexis Risk Solutions, one of the largest protectors of private and confidential data in the world.
Nuggets has already won numerous awards for its industry leading FinTech offerings, including most recently from Deutsche Bank. As part of their recent growth, Nuggets has established commercial partnerships with global companies such as LexisNexis Risk Solutions, LatPay, QFPay and a variety of other organizations.
“Frustratingly, 2020 was the worst year on record for data breaches, signalling a seismic shift in consumer attitudes towards privacy,” said Alastair Johnson, CEO & Founder of Nuggets. “On this Data Privacy Day – held annually on January 28 to create awareness about the importance of respecting privacy, safeguarding data and enabling trust – it feels particularly timely for Nuggets to join forces with ID2020 and the other brand leaders that are helping to make protecting customers’ data a top priority in this increasingly data-driven digital world.”
The ID2020 Alliance also continues to grow at a healthy pace, welcoming organizations from the public and private sectors that share our commitment to user-managed privacy-protecting, and portable digital ID. As an Alliance, we are only as strong as our members and we are thrilled to add Nuggets to the partnership as we move–together–towards providing good ID for all.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has appointed a new member to its Management Board to fill a vacancy following the departure of a member of the Board of Supervisors.
The appointment took place at the Board of Supervisors meeting in Paris today, 28 January.
The new member is:
Magdalena Lapsa Parczewska, Komisja Nadzoru Finansowego (KNF), Poland.
The new member will serve the remainder of the outgoing member’s term, until 30 March 2022, commencing with immediate effect.
The outgoing member was:
Sebastian Albella Amigo, formerly of the Comisión Nacional del Mercado de Valores (CNMV), Spain.
The Management Board, chaired by Steven Maijoor, Chair of ESMA, is responsible for ensuring that the Authority carries out its mission and performs the tasks assigned to it under its founding Regulation. The Management Board now consists of:
Steven Maijoor, European Securities and Markets Authority (ESMA);
Magdalena Lapsa Parczewska, Komisja Nadzoru Finansowego (KNF);
Vojtech Belling, Česká národní banka (CNB);
Vasiliki Lazarakou, Hellenic Capital Markets Commission, (HCMC)
Derville Rowland, Central Bank of Ireland (CBI);
Robert Ophèle, Autorité des Marchés Financiers (AMF), France; and
Statement by Dr Hans Henri P. Kluge, WHO Regional Director for Europe
Copenhagen, 28 January 2021
Good morning,
Today, we face a pandemic paradox.
Vaccines, on the one hand, offer remarkable hope. On the other hand, newly emerging variants of concern are presenting greater uncertainty and risk.
A total of 35 countries in the European Region have begun vaccinations, administering 25 million doses. These vaccines have shown the efficacy and safety we all hoped they would, and we should pause to acknowledge where science and determination have got us, since the SARS-CoV-2 virus was identified a year ago. This monumental undertaking will release pressure on our health systems and undoubtedly save lives.
Continued high rates of transmission and emerging COVID-19 variants of concern, however, have raised the urgency of the task to vaccinate priority groups. The increasing expectation of science, and vaccine development, production and equitable distribution, is not being met as fast as we would all like.
This paradox, where communities sense an end is in sight with the vaccine but, at the same time, are called to adhere to restrictive measures in the face of a new threat, is causing tension, angst, fatigue and confusion. This is completely understandable in these circumstances.
Today the world will exceed 100 million COVID-19 cases, of which a third are in the Europe Region, and in 2 days, it will be 1 year since the World Health Organization declared the novel coronavirus outbreak a public health emergency of international concern, WHO’s highest level of alarm.
As of today, 33 European countries have reported cases of the variant initially identified in the UK; while 16 have reported the one first identified in South Africa. Several hospitals, schools and long-term care settings have reported outbreaks involving new variants of concern.
Lockdowns, introduced to limit the spread of the virus, particularly the more transmissible new variants, have resulted in a decrease in new cases across the Region: 30 countries have seen a significant decrease in 14-day cumulative incidence. This is 7 more countries than 2 weeks ago. Yet, transmission rates across Europe are still very high, impacting health systems and straining services, making it too early to ease up. Pushing transmission down requires a sustained, consistent effort. Bear in mind that just over 3% of people in the Region have had a confirmed COVID-19 infection. Areas hit badly once can be hit again.
Not a single community nor individual have been spared the consequences of the pandemic. More than 700 000 Europeans have lost their lives to a virus that has had a brutal impact on our economies, our mental health and education, our private and professional lives, our relationships. Last week alone, deaths continued to plateau at record levels with over 38 000 new deaths reported. To the families and loved ones of those who have lost their lives to this disease, I offer my deepest condolences.
While breaking transmission chains is a clear priority, we are also addressing the effect on mental health. Mental illness is taking its toll, both on those who were already at risk, as well as on those who have never sought mental health support before. The International Labour Organization found that the pandemic has meant that half of young people aged 18 to 29 are subject to depression and anxiety – and up to 20% of health-care workers are suffering from anxiety and depression. Poor mental health has become a parallel pandemic that WHO/Europe is determined to address with a new Mental Health Coalition aimed at ramping up support and guidance to every country.
Some tough questions have been asked of our leaders over this past year. To European health authorities that have taken timely but painful decisions and managed to reverse the trend, I commend you for your resourcefulness and actions. Empowering health leadership in countries, especially in times of crises, is a priority for WHO/Europe. Let us not forget the lessons we have learned so harshly: opening and closing, locking down and opening up, rapidly, is a poor strategy. The introduction and gradual lifting of measures based on epidemiological criteria remains our best option to allow economies to survive and minimize collateral effects. Our approach must be measured, it must be restrained.
We need to stay patient. It will take time to vaccinate against COVID-19. To the millions of you in the 25 European countries that are currently in partial or full nationwide lockdown, whose freedom of movement is restricted, I am fully aware of the sacrifices you have made. I too feel it in my family, my community and my workplace.
In the face of new, more transmissible variants of the virus, we will need to keep our guard up. This is the time we must draw on every reserve of patience and resilience to tolerate and adhere to the necessary measures that protect our health systems from collapsing under waves of a more transmissible virus.
The European Investment Bank today confirmed EUR 38.5 million of new financial and technical support to transform renewable power generation in Burkina Faso and better protect its capital city from future flooding. The new clean energy and climate adaptation projects will improve access to energy in the country and address public health challenges and economic risks caused by extreme weather.
The latest European Investment Bank support for climate action in the Sahel was announced during a virtual event earlier today by Ambroise Fayolle, European Investment Bank Vice President.
The importance of accelerating high-impact investment in Burkina Faso was highlighted by the Minister of the Economy, Minister of Energy, Mayor of Ouagadougou, European Union Ambassador and representatives of financing partner Agence Française de Développement (AFD).
“New investment to Improve access to energy and better protect against climate change is essential for social and economic progress in Burkina Faso, the Sahel and Africa. The European Investment Bank has been a key partner for Burkina Faso for more than 50 years providing financial support and sharing unique global technical expertise for priority investment in our country. Today’s new agreements will scale up renewable energy generation and better protect our capital city Ouagadogou from future floods and extreme weather and protect our citizens from malaria.” said M. Lassané Kaboré, Minister of the economy, finance and development of Burkino Faso.
“Citizens of Ouagadougou face the impact of a changing climate on a daily basis. Support and technical expertise from the EIB, AFD and the EU will help to better protect Ougadougou from future floods, reduce the risk to live and property and improve access to key services during heavy rains.” said Armand Roland Pierre Béouindé, Mayor of Ouagadougou.
“The European Investment Bank has supported long-term investment in Burkina Faso since 1970 and is committed to strengthening economic opportunities, supporting sustainable development and accelerating climate action across the Sahel. As the EU climate bank and a member of Team Europe, the EIB is pleased to back Sonabel’s first solar power plant that will transform renewable energy generation in Burkina Faso and to support investment to better protect thousands of people in Ouagadougou from floods. Cooperation between Burkinabé partners and AFD, the European Union and the EIB is unlocking priority investment that highlights the social, economic and public health impact of climate action in Africa.” said Ambroise Fayolle, European Investment Bank Vice President.
“Team Europe is committed to delivering sustainable development in Burkina Faso and Africa and strengthening cooperation with African partners. This new agreement will enable thousands of people in Burkina Faso to benefit from more reliable access to clean energy and address flood risks.” said Wolfram Vetter, European Union Ambassador to Burkina Faso.
Harnessing solar power to enhance national energy production
The EIB supports renewable energy projects worldwide and will provide EUR 38.5 million to the solar power plant operated by national electricity authority Sonabel.
The EIB backing will help expand the capacity of the plant from 37 MW today to 50 MW.
The EUR 70.5 million scheme will increase domestic electricity production to address the 10% annual increase in demand and reduce the need for imports. Electricity supply in Burkina Faso is currently restricted by the limited interconnector capacity used to import power from Cote d’Ivoire.
Protecting Ouagadougou from climate change
More than 24,000 homes were destroyed and 150,000 properties damages by recent floods. New investment backed by the EIB and Agence Française de Développement will contruct a 5km water evacuation channel and improve flood protection in the Tanghin district of Ouagadougou.
The new scheme will protect property, improve public health by reducing waterborne diseases including malaria and improve access to key services, incuding schools and markets, during seasonal rains.
Backing high-impact investment in the Sahel
The European Investment Bank, as part of Team Europe and member of the Sahel Alliance, recognises the need to scale up investment that tackles these challenges and improves stability in the Sahel region.
Unlocking Supporting transformational public and private sector investment in 11 Sahel states most vulnerable to climate change is a key priority for the EIB as part of broader support for high-impact investment across Africa.
The European Investment Bank is the world’s largest international public bank and owned directly by the 27 European Union member states.
The Ambassador of the European Union for the Pacific,H.E Sujiro Seam with the Secretary General of the Pacific Islands Forum, Dame Meg Taylor at the signing ceremony. The European Union (EU) and the Pacific Island Forum Secretariat (PIFS) have today signed …
The Ambassador of the European Union for the Pacific,H.E Sujiro Seam with the Secretary General of the Pacific Islands Forum, Dame Meg Taylor at the signing ceremony.
The European Union (EU) and the Pacific Island Forum Secretariat (PIFS) have today signed a new project worth EUR 5.75 million (equivalent to FJD 14.3 million) to enhance the trade capacity of Pacific countries.
The project titled “Strengthening Pacific Intra -Regional and International Trade (SPIRIT)” (SPIRIT) aims at boosting and increasing intra-regional and international trade by strengthening institutional and technical capacity in the region. It will facilitate the implementation of trade agreements, in particular the Economic Partnership Agreement (EPA) and of the Pacific’s Aid-for-Trade Strategy 2020-2025. SPIRIT will also contribute to the development of a statistical monitoring framework that will foster greater regional economic integration.
In her remarks, Pacific Islands Forum Secretary General, Dame Meg Taylor said that, “The implementation of SPIRIT will ease trade challenges faced by the Pacific ACP[1] countries and focus on creating opportunities to trade regionally and internationally. Most importantly, it will strengthen the capacities of trade departments in the region through the provision of a technical position at the sub-regional level in each of the three sub-regions in the Pacific.”
Today’s announcement outlines the significant partnership and commitment between the EU and the Pacific Island Forum Secretariat in advancing the Pacific countries’ benefits from trade agreements by promoting their efficient and streamlined implementation. Three Long-Term Trade advisers will be deployed in the sub-regions of Melanesia (including Timor-Leste), Micronesia and Polynesia to assist with the development and implementation of trade and investment policies. These Trade Advisers will also deliver a range of capacity-building and training initiatives to the Pacific countries.
The Ambassador of the European Union for the Pacific, H.E Sujiro Seam said: “The European Union is not only a development partner for the Pacific, it is also the best success story of regional trade and economic integration following the Second World War. With a market of 500 million consumers, the European Union is a business partner for the Pacific. This SPIRIT project comes at the right time, to alleviate the catastrophic impact of the COVID-19 pandemic on the Pacific economies, build value and growth in the region and take advantage of the business opportunities offered in the European market.”
The Pacific ACP benefitting from the initiative are Cook Islands, Federated States of Micronesia (FSM), Fiji, Kiribati, Nauru, Niue, Palau, Papua New Guinea, Republic of Marshall Islands (RMI), Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu.
The EIB and the Croatian Ministry of Economy and Sustainable Development expand cooperation on the development and financing of Croatia’s key energy, resilience and climate projects.
The EU bank will help Croatia maximise opportunities created by various EU funds and initiatives, including the European Commission’s Green Deal Investment Plan.
The partners will join efforts to contribute to a green, energy efficient and sustainable European Union.
The European Investment Bank (EIB) and the Ministry of Economy and Sustainable Development of the Republic of Croatia have agreed to expand cooperation on the development and financing of key energy, sustainability and climate-related projects in the country.
Under the Memorandum of Understanding signed today, the two sides have agreed to develop joint operations in areas such as (i) renewable electricity generation and transmission distribution infrastructure; (ii) clean energy and energy efficiency measures, and renovations and conversions of buildings; (iii) green mobility; and (iv) support for the Croatian economy’s transition to a circular economy.
The EIB will step up its support to the Croatian Ministry of Economy and Sustainable Development and back key energy and climate initiatives such as the National Energy and Climate Plan. The partners will also cooperate to maximise opportunities stemming from EU programmes such as InvestEU, the Green Deal Investment Plan, and the Just Transition Fund.
EIB Vice-President Dario Scannapieco, who is in charge of operations in Croatia, said: “This agreement is a win-win cooperation on the common goals related to energy, resilience and climate projects in Croatia. It will also enable the country to maximise the opportunities stemming from various EU programmes, funds and initiatives and attract more finance for key operations, which will help the Croatian economy recover from the COVID-19 pandemic and the two devastating earthquakes that recently struck the country.”
Minister of Economy and Sustainable Development Tomislav Ćorić, PhD, said: “Cooperation between the Ministry and the EIB has been fruitful and this Memorandum will help us to strengthen our partnership even more. Croatia supports the decarbonisation of Europe and we see it as an opportunity for the development of the Croatian economy. Our goal of running on renewable energy by 2030 is ambitious but achievable. We also have a lot of new green projects that will decarbonise our economy and we see the EIB as a strong partner in implementing these projects.”
Ognian Zlatev, Head of the European Commission’s Representation in Croatia, said: “We very much welcome this cooperation between the EIB and the Croatian government, which will help maximise the great opportunities created by EU funds and initiatives in the field of climate and energy. This will help Croatia to make the most of the Commission’s European Green Deal Investment Plan and successfully implement its ambitious energy and climate projects, in line with the EU target to be climate-neutral by 2050.”
EU bank support boosts Croatia’s COVID-19 and earthquake recovery
The implementation of the projects outlined in the National Energy and Climate Plan are expected to boost the local economy as it recovers from the effects of the COVID-19 pandemic and the two devastating earthquakes that hit the country in 2020.
Support for a green, energy efficient and sustainable Croatia
The partners agreed on a coordinated effort to create long-term conditions for the sustainable development of Croatia through (i) improved protection and conservation of the environment; (ii) the development of sustainable water management practices; (iii) the development of systems to monitor weather and climate conditions; and (iv) the strengthening of Croatia’s energy and hydrocarbon management systems.
The Memorandum of Understanding outlines the support the EIB will extend to the Ministry of Economy and Sustainable Development in implementing the National Energy and Climate Plan and the Recovery and Resilience Plan, as well as major energy efficiency projects in the country, contributing to Croatia’s and the European Union’s energy and climate goals.
Croatia’s Energy Strategy and National Energy and Climate Plan are spearheaded by the Ministry of Economy and Sustainable Development. These documents are key to the long-term, sustainable and green development of Croatia and will help accelerate the achievement of the European Union’s energy and climate goals.
EIB to invest €1 trillion in climate action by 2030
The EIB will increase similar investments across the European Union as it transforms into the EU climate bank, mobilising €1 trillion for the climate and the environment by the end of the decade.
Last year, the share of EIB investments that went towards climate action and environmental sustainability projects rose from 34% to 40%, in spite of the COVID-19 crisis, bringing the EU bank closer to its 50% target.
In November 2020, the EIB Board approved the Climate Bank Roadmap, which outlines how the Bank will achieve these ambitious targets. The Roadmap sees the phasing-out of financing for high-emission projects such as airport expansions and sets stringent criteria for the financing of certain other projects such as motorways, after the Bank already announced an end to unabated gas projects.
Maximising and expanding opportunities from EU funds and initiatives
The EU bank will also provide technical and advisory support to maximise and expand opportunities deriving from EU initiatives and funds by working alongside the Croatian Ministry of Environment to access and blend financing from these sources with EIB financial products.
The EIB in Croatia:
To date, the EIB has supported the economic and social development of Croatia by investing €6.71 billion in operations covering the most important sectors of Croatia’s economy, including transport, the environment, energy infrastructure, manufacturing and services. Another key component of EIB activities in Croatia is support for small and medium-sized enterprises (SMEs) and mid-caps through the creation of long-term financing options in cooperation with local financial institutions. To date, the EIB has supported Croatian SMEs by unlocking new sources of finance worth close to €3.75 billion.
The European Insurance and Occupational Pension Authority (EIOPA) launched today a public consultation on open insurance, focused on access to and sharing of insurance-related data. In its Discussion Paper, EIOPA explores questions on whether and how far insurance value chains should be ‘opened’ up by the sharing of insurance-related and specific policyholder data amongst insurance and non-insurance firms, to protect policyholder rights and to allow for innovation in products and services. The main areas of the consultation paper include:
open insurance definition and use cases
risks and benefits of open insurance
regulatory barriers
possible areas to consider for a sound open insurance framework
Initial analysis indicates that the exchange of both personal and non-personal data through (open) Application Programming Interfaces has started to emerge in the insurance sector. This can facilitate industry-wide innovation and increase the agility of businesses in responding to changes in customer needs and expectations. However, it could also give rise to new or amplified risks such as data security, cyber risks, interoperability challenges, and liability, ethical and broader consumer protection issues. Increased data sharing, especially if combined with artificial intelligence or machine learning tools could also increase financial exclusion.
A key consideration for possible open insurance solutions is finding a balance between regulatory objectives related to data protection, insurance, and competition while supporting innovation, efficiency, consumer protection and financial stability.
To find such a balance, EIOPA believes a broad multi-stakeholder discussion is needed. Stakeholders are strongly encouraged to provide views to the Discussion Paper by filling out theEU Survey Tool by 28 April 2021.
EIOPA will assess the feedback received to better capture open insurance developments, risks and benefits as well as to plan next steps, such as for the upcoming legislative initiatives foreseen in the European Commission’s Digital Finance Strategy or to supplement EIOPA´s ongoing work on digitalisation.
While Europe’s drive for carbon neutrality and sustainability will inevitably leave at least some businesses out of pocket, the list of industries currently affected by EU environmental initiatives include those with sustainable interests at heart.
The European Union’s flagship climate policy vehicle, the Green Deal, took another major step forward in December, with a new binding target for a 55% reduction in greenhouse gas emissions by 2030. However, a little over a year after the original deal was first inked, the Green Deal is already accused of failing to ensure no one is “left behind”. At the same time, debate over key pillars of EU environmental efforts continues to play out within the European institutions, with the European Parliament still developing its response to the Commission’s Circular Economy Action Plan and environmental groups pushing for increasingly stringent rules.
While Europe’s drive for carbon neutrality and sustainability will inevitably leave at least some businesses out of pocket, the list of industries currently affected by EU environmental initiatives include those with sustainable interests at heart. Alongside its new and more ambitious targets, will the Commission be able to ensure it fairly distributes the financial support and technical assistance it offers to those most impacted by its dramatic moves towards a green EU? And is it willing to look beyond the headlines to support the sectors doing the heavy lifting on sustainable innovation? The track record thus far is not altogether encouraging.
Sustainable mobility is one area underlined for investment by the EC, especially because the transport industry will have to reduce emissions by 90% to meet Green Deal targets. The bloc’s electric vehicles (EV) market is growing rapidly, with 500,000 vehicles sold in 2020. In November, these vehicles accounted for fully 80% of the overall automotive market in Norway. In Germany, the Kraftfahrt-Bundesamt (KBA) motor transportation authority found annual EV sales last year increased third times over.
Nonetheless, this focus on electric cars themselves has detracted from the important question of how to charge them. While the EV industry saw an 110% increase, the rollout of electric charging stations is stalling at just 58% growth. Worse, sustainable independent electric charging stations, which power cars using solar energy and wind power, are being side-lined in favour of EV stations proffered by oil and gas companies along European motorways.
Berlin has dedicated $2.8 billion to charging infrastructure, and will oblige all fuel stations to have an EV charging point. But independent companies like Ionity and Fastned are suffering from unfair systems which favour ‘bundled’ tenders on historic petrol station territory, so that any contender must propose oil and gas pumps as well as service facilities. While Big Oil plugs into new energy portfolios, younger and more sustainable European entrants cannot compete fairly.
This unequal playing field comes to the detriment of smaller, ecologically innovative European players, and it remains to be seen whether the EU’s Alternative Fuels Infrastructure Directive, due out later this year, will effectively address it.
Cherry-picked sustainability policies also affect one of the biggest manufacturing industries in the bloc, namely the food and drink industry, which employs 4.82 million people and generates a turnover of €1.2 trillion annually. With restaurants shuttered, the food industry has taken a huge hit during the pandemic. Takeaway and delivery services have become a lifeline for eateries struggling to make ends meet.
Ironically, this small silver lining now leaves European restauranteurs in hot water with the Commission. The current draft guidelines of the EU’s Single Use Plastics Directive (SUPD), a major component of the Circular Economy Action Plan, are in the process of being finalised by member states as well as the European Parliament’s environment (ENVI) committee. As they currently stand, the guidelines place polymer-insulated fibre-based products (such as paper cups and containers) on their blacklist, stating that “single‐use plastic products… fall within its scope also if they are made partly from plastic, regardless of the amount of plastic contained.”
While the European Commission’s attempt to force out plastic is to be lauded, that radically broad definition of ‘plastic’ includes many non-plastic products which include a small amount of plastic lining. It also overlooks the advantages that paper and carton-based disposable products, including cups and cutlery, can bring to the table. A recently published life cycle assessment (LCA) of single-use packaging commissioned by the European Paper Packaging Alliance (EPPA) quantifies the discrepancy between the Commission’s approach and the concrete impact of single-use paper food and drink packaging used in European restaurants, clearly demonstrating how paper can be better for the environment than reusable tableware.
The assessment – carried out by Ramboll, an independent Danish consultancy to the European Commission, and certified by TÜV – demonstrates that energy consumption in the use phase of reusable plastic and traditional tableware (during washing and drying) actually outweighs the environmental impact of disposable paper alternatives. As such, foodservice based on reusable products was found to use 267% more freshwater and 238% more fossil fuel resources compared to paper-based disposables. This resulted in a 177% higher carbon footprint overall – regardless of the material of the reusable packaging and the in-store or out-of-store washing options considered.
Those findings help illustrate how, in the pursuit of fighting plastic pollution, the SUPD is simply threatening to ban or limit the use of many paper-based products altogether, undermining its own objectives of sustainability and recyclability by singling out products which are already recycled 85% of the time. Ramboll’s results pertaining to increased fossil fuel use, for their part, also point to a wider issue undermining environmental policies across the EU.
Take Germany, for example, which has pledged to cut out coal by 2038. All while seeking to meet this target, Berlin is dismantling nuclear power plants quickly in parallel. Ten years into this post-Fukushima policy, the power Germany received from nuclear has paradoxically been replaced mainly by coal, even as the National Bureau of Economic Research estimates Germany bears costs of nearly €10 billion every year from its nuclear phase out.
Germany is not only phasing out coal too slowly, but wind and solar companies were further disappointed after Germany’s Renewable Energies Act reform in early December cut the renewable energy industry off from subsidies after just 20 years. More assertive EU climate law could prevent member states from making knee-jerk reactions by setting individual deadlines for fossil fuel phase out, banning subsidies to fossil fuels, and channelling financial support into renewables. In their absence, even Europe’s most climate-conscious member states are backsliding in important ways.
While the EU’s overall green objectives are vital, stakeholders on all sides feel major policies need rethinking at a time when Greenpeace says “the Commission’s policies should be guided by a true paradigm shift in these systems.” Member states are also coming to resist certain facets of Timmermans’ aggressive approach, such as when the Vice-President created uproar this past autumn by threatening to scrap reforms to the Common Agricultural Policy. To achieve both top-level and grassroots buy-in, the Commission clearly still needs to iron out important inconsistencies.
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