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EU and US approve new rules for decarbonisation and emissions reduction
Europe targets 40% of its annual deployment in net-zero technologies by 2030 with the Net-Zero Industry Act. The US unveils standards to reduce fossil fuel emissions.
In related news, the US Environmental Protection Agency (EPA) has unveiled a new series of standards for the fossil-fuel industry, requiring all coal and natural gas plants to capture 90% of their carbon emissions. The Biden administration aims to utilise tax incentives from the Inflation Reduction Act, alongside the implementation of these new standards, to encourage companies to embrace low-carbon and environmentally friendly technologies for clean energy transition. President Biden’s national climate advisor Ali Zaidi said: “This year, the US is projected to build more new electric generation capacity than we have in two decades – and 96% of that will be clean.
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