The Japan Times - EU parliament backs emissions reprieve for carmakers

EUR -
AED 4.300703
AFN 72.605876
ALL 95.566623
AMD 431.686089
ANG 2.096729
AOA 1075.029927
ARS 1630.117511
AUD 1.614883
AWG 2.109365
AZN 1.988627
BAM 1.955368
BBD 2.358619
BDT 143.74826
BGN 1.95557
BHD 0.441781
BIF 3484.478409
BMD 1.171056
BND 1.490258
BOB 8.092455
BRL 5.868634
BSD 1.171061
BTN 112.01631
BWP 15.775988
BYN 3.263152
BYR 22952.706036
BZD 2.35526
CAD 1.605027
CDF 2624.337433
CHF 0.915719
CLF 0.026396
CLP 1038.867345
CNY 7.952585
CNH 7.945536
COP 4441.547698
CRC 533.091398
CUC 1.171056
CUP 31.032995
CVE 110.606169
CZK 24.320618
DJF 208.120324
DKK 7.472488
DOP 69.385268
DZD 155.165902
EGP 61.953547
ERN 17.565846
ETB 184.295054
FJD 2.559754
FKP 0.865656
GBP 0.866412
GEL 3.138539
GGP 0.865656
GHS 13.23885
GIP 0.865656
GMD 85.486744
GNF 10278.948927
GTQ 8.934027
GYD 245.00218
HKD 9.172668
HNL 31.162114
HRK 7.53387
HTG 152.941455
HUF 358.000737
IDR 20520.129066
ILS 3.405083
IMP 0.865656
INR 112.186623
IQD 1534.083924
IRR 1537597.093295
ISK 143.583183
JEP 0.865656
JMD 185.203572
JOD 0.830291
JPY 184.919765
KES 151.414385
KGS 102.409104
KHR 4697.10668
KMF 493.014552
KPW 1053.970463
KRW 1745.676267
KWD 0.360908
KYD 0.975914
KZT 549.633947
LAK 25704.688693
LBP 105103.269659
LKR 380.062573
LRD 214.479028
LSL 19.217446
LTL 3.457825
LVL 0.70836
LYD 7.406952
MAD 10.742979
MDL 20.084166
MGA 4889.160537
MKD 61.640864
MMK 2458.379922
MNT 4192.000607
MOP 9.446497
MRU 46.84213
MUR 54.914491
MVR 18.046385
MWK 2039.391252
MXN 20.132923
MYR 4.602916
MZN 74.832523
NAD 19.216911
NGN 1604.218565
NIO 42.983665
NOK 10.765551
NPR 179.232782
NZD 1.971824
OMR 0.45027
PAB 1.171081
PEN 4.014969
PGK 5.105747
PHP 72.14703
PKR 326.254684
PLN 4.240337
PYG 7161.418757
QAR 4.266744
RON 5.205349
RSD 117.396039
RUB 85.753937
RWF 1709.742388
SAR 4.400914
SBD 9.406227
SCR 16.10192
SDG 703.208973
SEK 10.915294
SGD 1.490726
SHP 0.874312
SLE 28.815812
SLL 24556.470282
SOS 669.258284
SRD 43.556271
STD 24238.503756
STN 24.884949
SVC 10.246738
SYP 129.494205
SZL 19.30483
THB 37.859903
TJS 10.966959
TMT 4.110408
TND 3.373229
TOP 2.819623
TRY 53.206656
TTD 7.945381
TWD 36.90236
TZS 3046.376822
UAH 51.496291
UGX 4391.105437
USD 1.171056
UYU 46.520523
UZS 14144.019813
VES 594.972399
VND 30852.652716
VUV 138.159919
WST 3.165059
XAF 655.828994
XAG 0.013455
XAU 0.000249
XCD 3.164838
XCG 2.110516
XDR 0.813848
XOF 654.020755
XPF 119.331742
YER 279.443344
ZAR 19.221662
ZMK 10540.912462
ZMW 22.10378
ZWL 377.079693
  • CMSC

    -0.0600

    23.05

    -0.26%

  • CMSD

    -0.0400

    23.56

    -0.17%

  • RYCEF

    -0.1700

    16.03

    -1.06%

  • BCC

    -0.9500

    66.98

    -1.42%

  • BCE

    -0.0800

    24.39

    -0.33%

  • RIO

    2.5400

    112.04

    +2.27%

  • GSK

    0.0900

    50.99

    +0.18%

  • NGG

    -0.2600

    86.98

    -0.3%

  • RELX

    -1.1500

    31.62

    -3.64%

  • RBGPF

    -0.2100

    60.79

    -0.35%

  • JRI

    -0.0100

    13.13

    -0.08%

  • AZN

    3.1800

    187.72

    +1.69%

  • BTI

    1.7100

    65.35

    +2.62%

  • VOD

    0.4150

    15.51

    +2.68%

  • BP

    -0.2600

    44.14

    -0.59%

EU parliament backs emissions reprieve for carmakers
EU parliament backs emissions reprieve for carmakers / Photo: Josh Edelson - AFP/File

EU parliament backs emissions reprieve for carmakers

EU lawmakers on Thursday gave the green light to a delay for European carmakers to meet new emission targets, as the bloc seeks to balance climate goals with supporting the struggling industry.

Text size:

Starting this year the European Union is cutting the average carbon emissions that new vehicles sold in the 27-country bloc are permitted to produce, with steep fines if carmakers fail to comply.

But the European Union has also made it a priority to bolster key sectors -- including automobile manufacturing -- in the face of fierce US and Chinese competition.

Part of that effort includes loosening rules to give companies breathing room, including the reprieve approved in Strasbourg by a 458 to 101 majority of EU lawmakers.

Under the scheme put forward in March by European Commission head Ursula von der Leyen, companies will be able to comply with the new targets by averaging their emissions over three years from 2025 to 2027, rather than each individual year.

This means they will not be fined if they fail to meet the 2025 target by December 31 this year.

The European Automobile Manufacturers' Association (ACEA) welcomed the vote, saying the mechanism provided "much-needed flexibility in meeting CO2 targets at this important moment in our transition toward zero-emission mobility."

The parliament's biggest political grouping, the conservative EPP, hailed the vote, with lawmaker Laurent Castillo calling it "a first step to strengthen the European automobile market".

The French MEP said the next step would be to revise the EU's plans to phase out new sales of combustion engine vehicles by 2035.

The measure passed with support from the parliament's centrist and socialist groups.

Criticizing the move, Green EU lawmaker Saskia Bricmont said loosening emissions rules would "delay the marketing of affordable electric vehicles, which are vital" for European consumers.

"This is incomprehensible. It is yet another step back in the fight against climate change," Belgium's Bricmont said in a statement.

The far-right Patriots group meanwhile described the three-year flexibility as "insufficient", urging the "complete repeal" of the EU's penalty mechanism.

T.Sato--JT