9,659.48 TRY BIST 100 BIST 100
37.83 USD USD USD
5.24 CNY CNY CNY
40.78 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
46.25 TRY Interest Interest
74.48 USD Fossil Oil Fossil Oil
33.77 USD Silver Silver
5.04 USD Copper Copper
102.21 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,803.99 TRY Gold (gr) Gold (gr)

European People's Party demands new regulations for the EU economy

The European People's Party (EPP), the European Union's most powerful political grouping, has proposed scrapping renewable energy targets and suspending supply chain reporting rules in a bid to revive the EU's flagging economy.

European People's Party demands new regulations for the EU economy

EPP leaders, at a leadership summit in Berlin last weekend, indicated that they aim to reshape the EU's economic arrangements, proposing a return to pre-2019 green energy policies and calling for a simplification of existing regulations on the EU's institutions. In particular, these changes include suspending for at least two years the EU's corporate sustainability reporting rules, which require companies to monitor and report on issues such as child labor in their supply chains.

The EPP leaders criticized the EU's CO2 import tax, known as CBAM, for being overly bureaucratic, even though it aims to introduce tariffs on importers of dirty steel and cement. The CBAM is scheduled to be implemented from 2026, but the EPP emphasizes that reporting obligations for large companies should be reduced and indirect impacts on small and medium-sized companies should be eliminated. The EPP plans to scrap renewable energy targets, even as it advocates meeting the EU's climate targets and maintaining the carbon pricing mechanism, the ETS. EPP leaders emphasize that member states should have the right to decide which technologies to use to meet their climate targets.

EPP officials stated that in order for the EU to create new growth and jobs, the European Commission, the European Parliament, the Council, national and local authorities, as well as the European Parliament, should have more autonomy over new regulations. “Not every good idea needs to become law,” they added, “This change requires a new mindset. The EU should focus on the big issues rather than regulating every aspect of people's lives. This approach must be adopted to ensure that the EU's achievements of the last decade continue in the future.”

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Angang Steel suffers USD 1 billion loss amid crisis in China's steel market

Wednesday, April 2, 2025

Türkiye's rebar exports increased by 18.4% in February

Wednesday, April 2, 2025

Uncertainty over US-China trade forces market participants to act cautiously

Wednesday, April 2, 2025

Fagersta Stainless increases production capacity with Danieli technologies

Wednesday, April 2, 2025

ERDEMİR published its integrated annual report for 2024

Wednesday, April 2, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now