In brief | 2 July '24

Euractiv: Brussels urges EU countries to submit climate plans ‘as soon as possible’

On 30 June, EU countries were legally obliged to submit their national energy and climate plans until 2030 (NECPs). These are key documents to assess whether the EU is on track for its climate targets. Only four EU countries have submitted their long-term climate and energy plans on time.

Bloomberg: Europe set to get hot again with Greece still battling wildfires

-Hot temperatures to return after cooler weather this week

-Extensive flooding hit Switzerland, Italy over the weekend

European Climate Neutrality Observatory: 2024 Report: State of EU progress to climate neutrality

The EU has kept up its progress towards climate neutrality in many building blocks for a climate neutral society, but pace is still too slow.

Bertelsmann Foundation: Carbon prices and inflation in a world of shocks

Climate change and geopolitical tensions render supply shocks more likely which can trigger inflation. While climate change presents a major risk for price stability, CO2 price policies, which are the key climate mitigation tool in the European Union, can create additional inflationary pressures.

Bloomberg: Market for carbon credits faces fresh blow as offsets slammed

More than 80 non-profits team up to declare that carbon offsets are undermining genuine net zero action.

ETH Zurich: Whether sustainably produced hydrogen needs to be 100 percent green is currently under debate

Using the production of ammonia and artificial fertiliser as examples, researchers have calculated that "nearly sustainable" hydrogen would be better in the end.

Bruegel: How to finance the European Union’s building decarbonisation plan

This policy brief discusses the challenges of meeting EPBD targets and introducing ETS2 smoothly.