Reuters
The European Union seeks to phase out fossil fuels
A document on the European Commission showed that the European Union will seek to gradually end fossil fuel protection within 10 years under an international energy treaty.
The Commission’s pursuit comes after calls from some countries to withdraw from the treaty unless it is in line with the climate goals in Europe.
Next month, the countries that signed the Energy Charter Treaty, which numbered more than 50, would resume talks to update the treaty that was inaugurated in the 1990s to protect international energy investments.
The treaty faces mounting criticism from European governments and environmental groups that see it undermining efforts to end the use of fossil fuels by allowing foreign investors to sue countries over policies that affect their investments.
This month, German company RWE used the Energy Charter Treaty to seek compensation from the Dutch government over its plan to phase out coal-fired power by 2030, which will affect the company’s power plant.
On Monday, the European Commission presented its proposal to reform this treaty.
The proposal would immediately end safeguard measures for new investments in coal and oil, as well as the energy produced from these sources.
New investments in natural gas-powered energy infrastructure will keep protection until the end of 2030 if emissions are less than 380 grams of carbon dioxide per kilowatt-hour and can use low-carbon gases.
The European Union is divided over treaty reform, with Spain and France raising the prospect of an EU withdrawal.
Source: Reuters
