The European Council broadly agrees on several measures to combat climate change. Among them is a ban on combustion engines for new cars beginning in 2035, setting aside €59 billion for a special fund to reduce the cost of transition for the poorest populations, to be paid out from 2027 to 2032, reduction of carbon dioxide emissions by 55% from the 1990 reference level, and a carbon market reform. Negotiations on the final version of these reforms is underway.
The European Council (informally EUCO) is a collegiate body that defines the overall political direction and priorities of the European Union. It is composed of the heads of state or government of the EU member states, the President of the European Council, and the President of the European Commission.
Phase-out of fossil fuel vehicles means stopping selling and using vehicles which are powered by fossil fuels, such as gasoline, diesel, kerosene and fuel oi. Many countries and cities around the world have stated they will ban the sale of passenger vehicles (primarily cars and buses) powered by fossil fuels such as petrol, liquefied petroleum gas and diesel at some time in the future.
The 27 EU countries agree to support the 2035 fossil fuel car ban and compromise on fund to shield citizens from CO2 costs. EU leaders agreed to form an EU fund to shield low-income citizens from the policy’s costs over 2027-32. European Union countries reached a deal backing stricter climate rules that will eliminate carbon emissions from new cars by 2035 and a multibillion-euro fund to shield poorer citizens from carbon dioxide (CO2) costs.
The 27 EU members found a common agreement on 29th June, Wednesday morning on draft legislation aimed at slashing EU greenhouse gases by at least 55 percent in 2030 compared with 1990 rather than by a previously agreed 40 percent. The decision to introduce a 100 percent CO2 emissions reduction target by 2035 for new vehicles including cars and vans will effectively prohibit the sale of new cars powered by petrol or diesel in the EU nations.