Watered-down Tobin tax could enter into force in 2021

Watered-down Tobin tax could enter into force in 2021

EU finance ministers will discuss on Friday (14 June) a new draft proposal for a financial transaction tax (FTT), which will significantly lower expected revenues once participating member states adopt it, according to details of the text seen by EURACTIV. The draft directive is based on a Franco-German proposal made last December and should be adopted no later than January 2021. This will be the first time that all 28 governments will discuss the so-called ‘Tobin tax’, after years of closed-door negotiations and a “messy process”, as one European official…

Read More

EU fossil gas investments undermine bloc’s climate goals, campaigners say

EU fossil gas investments undermine bloc’s climate goals, campaigners say

The European Union’s investment arm risks torpedoing the bloc’s commitment to abide by the Paris climate goals by financing billions of euros worth of new natural gas infrastructure projects, new analysis said Thursday (13 June). The European Investment Bank, the world’s largest multilateral lender, provided €2.5 billion for fossil fuel projects in 2018, the bulk of which went towards gas pipelines. Even as scientists warn that reliance on fossil fuels must be slashed in order to drag greenhouse gas emissions down, the EIB spent €14.23 billion on fossil gas projects…

Read More