Edition: International | Greek
MENU

Home » World

Macron at Davos: I will shut all coal-fired power stations by 2021

France will shut down all coal-fired power stations by 2021, President Emmanuel Macron said in an energetic speech to participants at Davos

By: EBR - Posted: Friday, January 26, 2018

President Macron also called for the EU, which already opened the world’s first carbon trading market, to “go a little bit further and create a floor price for CO2.” Carbon markets work by providing a financial incentive to pollute less; many experts have called for a minimum price on carbon to boost progress.
President Macron also called for the EU, which already opened the world’s first carbon trading market, to “go a little bit further and create a floor price for CO2.” Carbon markets work by providing a financial incentive to pollute less; many experts have called for a minimum price on carbon to boost progress.

by Ceri Parker*

President Macron said he wanted to “make France a model in the fight against climate change,” as one of five pillars in his plans to reform the economy.

“That is a huge advantage in terms of attractiveness and competitiveness. Talent will come where it is good to live. We can create a lot of jobs with such a strategy,” he said.

Across the European Union, the economic tide is already turning against coal power: more than half of the bloc’s 619 coal-powered plants are losing money, according to a report. A combination of rapidly falling prices for renewables and air pollution laws are pushing them out of business.

President Macron also called for the EU, which already opened the world’s first carbon trading market, to “go a little bit further and create a floor price for CO2.” Carbon markets work by providing a financial incentive to pollute less; many experts have called for a minimum price on carbon to boost progress.

Not long returned from a meeting with China’s President Xi Jinping, President Macron acknowledged the Chinese leader’s commitment to the Paris Agreement.

Looking ahead to the gargantuan infrastructure project set to link China with Europe, Macron said:

“The new Silk Road has to be a green road. We cannot have a coal-based route.”

Whether silken or green, it will still be a bumpy road ahead to keep warming within the 2°C targeted by the Paris agreement.

“On climate change, we’re losing the battle,” Macron said, adding that the world needed concrete action and results by 2020.

*Commissioning Editor, Agenda, World Economic Forum
*First published in Weforum.org

EU Actually

The G7 wants to project strength, but the traditional group photo shows its weakness

N. Peter KramerBy: N. Peter Kramer

An 81-year-old Biden trailing Trump in the polls; Macron and Scholz who have just been defeated by the far right; Sunak on his last G7 meeting before his election defeat

View 04/2021 2021 Digital edition

Magazine

Current Issue

04/2021 2021

View past issues
Subscribe
Advertise
Digital edition

Europe

EU Commission ups pressure on seven countries’ public spending; spares Estonia for defence investment

EU Commission ups pressure on seven countries’ public spending; spares Estonia for defence investment

The European Commission issued formal warnings to seven member states for violating the bloc’s budget rules

Business

The new type of smart, sustainable entrepreneurship and the next day

The new type of smart, sustainable entrepreneurship and the next day

Both retail and industry go hand in hand with the new type of smart entrepreneurship as they are at the level of rapid developments and changes spearheaded by the new circular economy and sustainable development

MARKET INDICES

Powered by Investing.com
All contents © Copyright EMG Strategic Consulting Ltd. 1997-2024. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron