European Union parliamentarians and the Biden Administration are simultaneously working on new laws to curb emissions from industry and the power generation sectors.
The United States, the European Union and China emit half of the world’s annual amount of greenhouse gases. Action on reducing this is high on the political agenda on either side of the Atlantic. The EU and U.S. already have a number of environmental laws bt these new laws put further pressure on major emitters to cut down and to capture carbon.
In Brussels, the European Parliament approved the Net-Zero Industry Act. The act sets a target for EU countries to meet 40% of decarbonization technology needs by 2030 with local production.
“To achieve all our economic, climate and energy ambitions, we need industry in Europe. This Act is the first step to making our market fit for this purpose,” Member of the European Parliament Christian Ehler said.
There is already concern in the bloc over the competitiveness of Europe’s industrial sector. Overcapacity in China and subsidies in the U.S. place increasing pressure on European industries such as chemicals. Signatories to the Antwerp Declaration, which seeks to redress these challenges, is signed by several base oil, lubricant and additive companies and associations.
At the same time in the U.S., the Democratic presidency is introducing a new regulation to reduce emissions from coal and natural gas electricity generation using carbon capture technology. The regulation would require coal- and gas-fired power generators to capture 90% of their carbon emissions. The U.S. Energy Information Agency estimates this could reduce emissions by 1.4 billion metric tons by 2047.
While not singled out explicitly in either legislation, the European and US lubricants industries are consumers of large quantities of electricity.
Sorry, a technical error occurred and we were unable to log you into your account. We have emailed the problem to our team, and they are looking into the matter. You can reach us at cs@lubesngreases.com.
Click here link to homepage