Benchmark European power prices have rocketed this year, more than trebling in Spain and elsewhere

Adaptation measures include flood prevention measures and renovating buildings to make them more resilient to extreme temperature. The changes required vary across the continent, but recent events have shown that climate change poses a threat to Europe’s cities.

Nuclear should be included in the taxonomy and two other expert groups have agreed that the existing European legal framework provides adequate protection in terms of public health and environment in the EU.

The European Parliament (EP) has approved the €30bn upgraded Connecting Europe Facility (CEF) programme for 2021 to 2027, with 60% for projects that help achieve the EU’s climate objectives and 15% of energy pillar funds for cross-border renewable energy projects.

In fusion, the Euratom Work Programme sets a clear strategy for EUROfusion - the European Consortium for Development of Fusion Energy.

According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.

The pan-European STOXX 600 was up 1.0% after ending Wednesday with its fifth straight quarter of gains, and was set for its best session in more than a month.

According to the EU Climate Law, the European Union will have to cut its net greenhouse gas (GHG) emissions by at least 55% by 2030 compared to 1990 levels and to reach climate neutrality by 2050.

The vote means the Parliament has given its final rubber stamp on a provisional deal it reached with the EU Council April 21 in which the EU will raise its emissions reduction target to at least 55% below 1990 levels by 2030, from the previous 40% goal.

In Germany, the euro zone’s benchmark bond issuer, 10-year yields have risen around 12 basis points