EMISSIONS: EU Climate Target 2040 Statement - Lars Aasgard
“"The general approach would set a legally binding target of 90% reduction of net greenhouse gas emissions compared to 1990 level, which is stated in Article four paragraph three. The main changes in the presidency compromise proposal are the following. First on international credits, we have made a number of changes. We have increased the amount up to 5% of high qualified quality, sorry, international credits corresponding to a domestic reduction of 85% we have kept the starting year for international credits at 2036 at the same time, we have introduced a pilot phase from the period 31 to 35 we have also added in the revision clause that the commission has to assess the flexibility for member states to use further international credit, up to 5% for their post 2030, targets and efforts. Another important element for many of you is the question of ETs two. As you will see, the climate law now includes a one year postponement of the start of the system, we have specified the need for access to innovative technologies across all member states, taking into account geographical balance. We know this has been very important for many of you. We have also in the operative text. Part of the text included that de Commission needs to take into account the role of serum low carbon and renewable fuels in decarbonization of the transportation sector”, Lars Aasgard said.
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SFIF6 96.20/96.10ps vs 0NF6 96.30/96.20ps, bought the front for half in 5k.
FRANCE: Lecornu Resigns After Naming Largely Unchanged Government
French Prime Minister Sébastien Lecornu has presented his resignation to President Emanuel Macron after a broadly unchanged government Lecornu named on Sunday evening was criticised by party leaders from both the right and the left. Bloomberg reports that Lecornu will deliver press remarks in Paris at 10:45 CET, 09:45 BST, 04:45 ET.
- Politico described Lecornu's government as "a sign that the political forces represented in Macron's successive administrations remain broadly the same, despite Lecornu's being the French president's fifth prime minister in less than two years.”
- Lecornu’s resignation comes after a Friday move to rule out using Article 49.3 of the French constitution to pass a budget without a parliamentary vote, and a parallel bid to agree on a ‘non-aggression pact’ between competing parties failed to ease concerns with Socialists.
- Le Monde reports, “Over the weekend, Lecornu sent a letter to the leaders of Macron's centrist camp and LR pleading for unity. "With only a very narrow majority, the government will have to make compromises with other political groups, without abandoning its convictions.”
- Socialist Party leader Olivier Faure said this morning, "The prevailing sentiment is one of dismay ... The reality is that we are witnessing an unprecedented political crisis."
- National Rally President Jordan Bardella said, "There can be no return to stability without a return to the polls and without the dissolution of the Assemblée Nationale,"
- Mathilde Panot of the leftist Insoumise party wrote on X, “we demand the immediate examination of the motion filed by 104 deputies for the impeachment of Emmanuel Macron.”
GOLD: Heading towards $4000.00
- Despite the Dollar Bid, Gold is still acting as a much better Safer Haven, at a new all time record high, next projection comes at $3987.3 - 2.236 proj of the May 15 - Jun 16 - 30 price swing.
- But the Globe will be fixated on the big Psychological $4000.00 round number.
