How the E.U. Plan to Cut Emissions Will Affect Businesses

FRANKFURT — Cars with internal combustion engines will disappear from showrooms by 2035. Steel producers and cement makers will pay for every ton of carbon dioxide their factories emit. Cargo ships may not be able to dock in Rotterdam or Hamburg unless they run on clean fuels. Airliners will be required to tank up with synthetic fuel produced with green energy.

The European Union’s plan to cut its greenhouse gas emissions by more than half by the end of the decade will touch almost every industry, with profound consequences for the economy.

The plan unveiled Wednesday by the European Commission, branded “Fit for 55,” calls for its 27 members states to cut their output of greenhouse gases 55 percent by 2030, compared with 1990 levels.

The E.U.’s target is more aggressive than that of the United States, which committed to reduce emissions by 40 to 43 percent over the same period, but behind Britain, which pledged a 68 percent reduction. China,…

Read more…