There is a good chance that Poland and other countries might resist this “very aggressive” proposal
Wherever Greta Thunberg goes, the media circus tends to follow. So the fact that she is in Brussels on Wednesday, as the EU unveils the first stages of its green deal climate law, will undoubtedly deliver some eye-catching soundbites.
The European Commission’s plan was just released. Investors will need to study the detail since it could be considered controversial.
Announced in December, the green deal aims to get the bloc carbon neutral by 2050. The new twist is that Brussels wants authority to raise emissions targets every five years from 2030 onwards with limited input from member countries.
The strong-arm approach is risky because it faces opposition from member countries, specifically Poland, an industrial, coal consumer that did not sign up to the EU’s greenhouse gas targets. So there is a good chance that other countries might resist this “very aggressive” approach by executive vice-president Frans Timmermans, says Jacob Funk Kirkegaard, a fellow at the Peterson Institute for International Economics: “This particular measure will come across as a power grab.”
The green deal also risks dividing the EU’s rich and poor countries, says Aleksander Szpor, an official at the Polish Economic Institute.