As we previously discussed in May, the European Commission has been considering proposals to significantly reduce CO2 emissions from vehicles. The draft law for vehicles proposed CO2 reduction targets of 15 percent by 2025 and 30 percent by 2030, with 2021 as a baseline. Last month, the Commission's environment committee voted to increase the reduction percentages to 45% in 2030. The parliament's vote on emissions targets was set for October 3, 2018.
Leading up to the vote, Forbes reported a "lobbying frenzy". German Chancellor Angela Merkel publicly denounced raising the proposed 30% target, and environmentalists decried her statements as a "shabby horse trade" with automakers—swapping lower CO2 targets for automakers retrofitting diesel engines already in the marketplace to reduce emissions. The European Automobile Manufacturers' Association (ACEA) warned about "disruptive socio-economic impacts" from more aggressive CO2 reduction targets.
On Wednesday, EU lawmakers voted in favor of more stringent targets than the original proposal, but slightly less than the target set by the environment committee. Lawmakers voted to cut CO2 emissions from cars and vans by 40 percent by 2030. They also voted in favor of a 20 percent reduction by 2025, based on 2021 emissions.
After the vote, the ACEA spoke out about "serious concerns" of the parliament's vote. ACEA released a statement saying "We can only hope that national governments bring some realism to the table when adopting their common position on the future CO2 targets next week."
The final emissions targets will be decided next week by a vote of the European Council, comprised of representatives of each of the 28 member countries. Dashboard Insights will continue to monitor these developments and the final emissions targets set by the EU.
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