Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

EU members struck a deal on Thursday to reduce usage of super-potent greenhouse gases in fridges and air conditioners, which comes as part of the bloc’s broader initiative to slash CO2 emissions.

The European Union nations are expected to completely phase out the usage of hydrofluorocarbons by year 2050.

“Such substances have highly negative impacts on the health of our planet and must be phased down. The agreement is an important step in our common goal to fight climate change,” Spain’s climate minister Teresa Ribera was quoted as saying by Reuters.

Under the deal, sales of products that contain fluorinated gases will be gradually banned. Different timelines will be applied depending on the products. According to Reuters, a complete fluorinated gas ban on split air conditioning and heat pumps will come into effect from 2035.

“F-gases are relatively unknown, but have a huge climate impact. With today’s agreement we ensure that we quickly get rid of these super greenhouse gases,” Dutch lawmaker Bas Eickhout was quoted as saying by the same media.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Hutchison Whampoa share price up, nears O2 acquisitionHutchison Whampoa share price up, nears O2 acquisition Hutchison Whampoa Ltd is close to striking a deal with Telefonica to acquire its British cellphone operator O2 for around £10.25 billion.Owned by the richest man in Asia Li Ka-shing, the company intends to merge O2 with its existing mobile […]
  • Maersk to buy Danish logistics company Martin Bencher GroupMaersk to buy Danish logistics company Martin Bencher Group Shipping giant A.P. Moller-Maersk said last week it had agreed to acquire Danish logistics firm Martin Bencher Group in a deal estimated at $61 million.“Martin Bencher will be an excellent fit to Maersk and our integrator strategy, […]
  • Forex Market: CHF/NOK daily forecastForex Market: CHF/NOK daily forecast During yesterday’s trading session CHF/NOK traded within the range of 6.6505-6.6777 and closed at 6.6529.At 6:30 GMT today CHF/NOK was losing 0.01% for the day to trade at 6.6541. The pair touched a daily low at 6.6527 at 5:50 […]
  • USD/JPY on a session high after series of data from the United StatesUSD/JPY on a session high after series of data from the United States On Tuesday US dollar rose to a fresh session high versus the Japanese yen after US inflation data met expectations and thus, gave the Federal Reserve Bank leeway to continue asset purchases.USD/JPY pair extended gains, reaching 95.74, […]
  • Natural gas trading outlook: futures steady near six-month lowNatural gas trading outlook: futures steady near six-month low Natural gas futures were little changed during early trade in Europe today. Last week saw a massive weekly build for natgas inventories, and another sizable injection is expected in this weeks log as well.Natural gas futures for September […]
  • Gold futures weekly recap, March 31 – April 4Gold futures weekly recap, March 31 – April 4 Gold futures surged the most in more than three weeks on Friday, snapping two weeks of losses, after a government report showed US employers added less workers than expected, raising economic concerns and boosting demand for the metal as a […]