CSTM - EU rolls out roadmap for cutting carbon emissions 55% by 2030

The European Commission has unveiled plans for new legislation across numerous sectors designed to achieve its target of a 55% cut in greenhouse gas emissions by 2030.The proposals combine the application of emissions trading to new sectors and a tightening of the existing European Union emissions trading system; increased use of renewable energy; a faster rollout of low emission transport modes and the infrastructure and fuels to support them; and more.Perhaps the most thorny proposal is a first-of-its-kind carbon border tariff starting in 2026 on imports from countries that the European Union feels are not taking similarly aggressive steps to cut their own carbon emissions.The countries that could be most affected include Russia, Turkey, China, Ukraine and the U.K., which collectively export large amounts of fertilizer, iron, steel and aluminum to the EU.The U.S. sells less steel and aluminum to Europe but could see an impact.Relevant ETFs include [[XLE]], [[SLX]],

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EU rolls out roadmap for cutting carbon emissions 55% by 2030