Parliament also wants an independent Scientific Council to deliberate on the EU on climate policy and a carbon budget defining the total emissions that Europe could emit in the future, proposals excluded from the project. With regard to the financing of the transition, the Council welcomed the announcement by the European Investment Bank (EIB), the EU`s lending department, of an investment of EUR 1 billion in the fight against climate change and environmental sustainability between 2021 and 2030. In the face of fires, floods and droughts that are ruining millions of lives around the world, the new EU initiative is coming as public protest, calling for more action to combat climate change, spreads across the bloc. Meanwhile, many media outlets report that Greta Thunberg, who gave a high-level speech at COP25 earlier this week on the day she was elected Person of the Year, reacted to a personal attack by Donald Trump on Twitter by mockingly changing her Twitter profile to reiterate her criticism. BBC News says the young climate activists “adapted their twitter biography to say she was a teenager working on her anger management problem. Currently, relax and watch a good old-time movie with a friend. Molly Roberts writes in the Washington Post that Trump`s attack on Thunberg “tells us a lot about our leader, from his empty noise to his moral harassment (especially from women and even girls now) and his desire (especially for glory).” Disagreements over climate day in 2050 and the next EU`s seven-year budget will cement the first EU summit led by former Belgian Prime Minister Charles Michel. However, France, Britain and several Central and Eastern European countries defend the role of nuclear energy in the transition to a more climate-friendly Europe. Apart from that, the Financial Times presents a feature on how climate change “increases geopolitical temperature” by intensifying the fight for resources. In an editorial in the Economist, “central banks must pay particular attention to climate change, but they must oppose the rami-missionary.” He adds that “if governments want to punish polluters, they can do so directly through taxation or by strengthening new environmental authorities. There is no need to scramble the powers of central banks.
And the banks themselves should resist the constant temptation to expand their territories. Carbon Market Watch calls on EU governments to support at least the 60% target proposed by the European Parliament and key EU climate policies, such as the greenhouse gas emissions trading scheme and the work-sharing regulation, to achieve this goal. Polish Prime Minister Mateusz Morawiecki announced that he would get a waiver from climate neutrality in 2050, but said the bloc had offered generous funds to regions “most affected” by the abandonment of fossil fuels. “We have reached an agreement on climate change, this is very important, it was essential that Europe has strong ambitions,” said Council President Charles Michel.