{"id":58896,"date":"2019-12-12T16:00:31","date_gmt":"2019-12-13T00:00:31","guid":{"rendered":"https:\/\/www.cogwriter.com\/news\/?p=58896"},"modified":"2019-12-26T06:51:34","modified_gmt":"2019-12-26T14:51:34","slug":"ursula-vonder-leyen-puts-forth-european-green-deal-could-she-be-the-prophesied-raiser-of-taxes","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/ursula-vonder-leyen-puts-forth-european-green-deal-could-she-be-the-prophesied-raiser-of-taxes\/","title":{"rendered":"Ursula vonder Leyen puts forth ‘European Green Deal;’ Could she be the prophesied ‘raiser of taxes’?"},"content":{"rendered":"

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\nUrsula Gertrud von der Leyen (European Parliament<\/a>)<\/em><\/p>\n

COGwriter<\/a><\/p>\n

European Union Commission President Ursula von der Leyen has pushed for a European ‘Green Deal’:<\/p>\n

December 12, 2019<\/p>\n

European Commission President Ursula von der Leyen announced the Commission’s ambitious plan for tackling climate change on Wednesday, and it’s called the European Green Deal<\/a>. It’s not related to the Green New Deal in the U.S., but it has just as much potential to fall through.<\/p>\n

\u201cThis is Europe\u2019s ‘man on the moon’ moment,\u201d von der Leyen said<\/a>, unveiling a skinny 24-page document that outlines the major points<\/a> of the Green Deal. The Deal aims to achieve net-zero carbon emissions across the bloc of 28 countries (27 if the U.K. leaves<\/a>) by 2050, with GHG emissions brought down to 40% below 1990 levels by 2030. …<\/p>\n

Achieving the Green Deal will be costly. Just hitting the E.U.\u2019s goal of keeping carbon emissions 40% below 1990 by 2030 levels will cost \u20ac260 billion<\/a> in yearly investment. That figure will jump to \u20ac290 billion<\/a> between 2030 and 2050. Under the Green Deal, the European Investment Bank is set to facilitate \u20ac1 trillion in funding over the next decade with \u20ac100 billion earmarked for countries like Poland that \u201cwill have to take the biggest steps.\u201d<\/a><\/p>\n

\u201cIf some are talking about the costs, we should always keep in mind how much more it will cost us if we don\u2019t act now,\u201d von der Leyen quipped<\/a> during her adderess to the COP25 summit in Madrid last week, asserting that the deal will create new economic opportunities for the E.U. Indeed, some countries outside the E.U. have blasted the Green Deal as protectionism, repackaged<\/a>.<\/p>\n

China has opposed an E.U. plan <\/a>\u00a0to impose a \u201ccarbon border tax<\/a>\u201d that will place a levy on imports that don\u2019t meet the E.U.\u2019s green manufacturing standards. The tax is designed to soothe fears inside the E.U. that new, stringent environmental standards will leave European businesses exposed to competition from cheap imports. China says it will actually damage efforts to fight climate change, somehow. Even inside Europe, not everyone<\/a> is on board with the scheme.<\/p>\n

\u201cWe do not have all the answers yet. Today is the start of a journey. But this is Europe\u2019s man on the moon moment,\u201d von der Leyen said. https:\/\/fortune.com\/2019\/12\/12\/european-green-deal-man-on-the-moon\/<\/a><\/p>\n

Von der Leyen said\u00a0an economic growth plan based on fossil fuels and pollution was “out of date and out of touch.”<\/p>\n

“The European Green deal is on one hand about cutting emissions, but on the other hand, about creating jobs and boosting innovation.”<\/p>\n

Read more<\/em>:\u00a0Opinion: In times of climate change, panic rules<\/a><\/p>\n

What is in the deal? <\/strong><\/p>\n