The European Union will give carmakers an extra three years to meet CO2 reduction targets initially set for 2025.
The European Commission (EC) will submit a proposal to this effect later this month, its President Ursula von der Leyen said.
«The second topic that we have discussed was the transition towards clean mobility. There is a clear demand for more flexibility on CO2 targets. The key principle here is balance. On the one hand, we need predictability and fairness for first movers, those who did their homework successfully. That means that we have to stick to the agreed targets. On the other, we need to listen to the voices of the stakeholders that ask for more pragmatism in these difficult times, and for technology neutrality. Especially when it comes to the 2025 targets and related penalties in case of non-compliance. To address this in a balanced manner, I will propose a focused amendment to the CO2 Standards Regulation this month. Instead of annual compliance, companies will get three years – this is the principle of banking and borrowing; the targets stay the same; they have to fulfil the targets. It means more breathing space for industry and more clarity, and without changing the agreed targets. I am sure that such a targeted amendment could be agreed swiftly by the European Parliament and the Council. Because it of course only makes sense if it is agreed quickly. At the same time, we will prepare to speed up work on the 2035 review, with full technology neutrality as a core principle».
Press release https://tinyurl.com/yzb59c2w
