Climate change and environmental degradation are an existential threat to Europe and the world. To overcome these challenges, the European Green Deal will transform the EU into a modern, resource-efficient and competitive economy, ensuring:
- no net emissions of greenhouse gases by 2050
- economic growth decoupled from resource use
On June 22, 2022, the Commission adopted pioneering proposals to restore damaged ecosystems and bring nature back across Europe, from agricultural land and seas, to forests and urban environments. The Commission also proposes to reduce the use and risk of chemical pesticides by 50% by 2030. These are the flagship legislative proposals to follow the Biodiversity and Farm to Fork Strategies and will help ensure the resilience and security of food supply in the EU and across the world.
The proposal for a Nature Restoration Law is a key step in avoiding ecosystem collapse and preventing the worst impacts of climate change and biodiversity loss.
The Commission proposed the first-ever legislation that explicitly targets the restoration of Europe’s nature, to repair the 80% of European habitats that are in poor condition, and to bring back nature to all ecosystems, from forest and agricultural land to marine, freshwater and urban ecosystems. Under this proposal for a Nature Restoration Law, legally binding targets for nature restoration in different ecosystems will apply to every Member State, complementing existing laws. The aim is to cover at least 20% of the EU’s land and sea areas by 2030 with nature restoration measures, and eventually extend these to all ecosystems in need of restoration by 2050.
The European Green Deal will improve the well-being and health of citizens and future generations by providing:
- Fresh Water, Clean Air, Healthy Soil & Biodiversity
- Renovated, energy efficient buildings
- Healthy & affordable food
- Longer lasting products that can be repaired, recycled & reused
Reference:
https://ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal_en
In the second half of 2022, China unveiled the details of its data export regulations, providing further explanations to its existing laws and regulations on data.
The current energy crisis has reached an unsustainable level for the European chemical industry. For the first time ever, the EU imports more chemicals than it exports, both in volume and value, resulting in a trade deficit of € 5.6 bn for the first half of 2022.
Endocrine Disrupting Chemicals (also referred to as hormone disruptors or EDCs) are synthetic chemicals that are not produced by the human body and that disrupt the normal functioning of humans and animals.
The shipping industry is now returning to normality and is in a downward spiral. The cost of shipping goods from China has slumped to the lowest level in more than two years as the world economy stumbles, dimming prospects for container carriers that turned in record profits during the pandemic.
No precipitous plunge in container shipping rates, just ‘orderly’ decline.
The global food and beverage market size is expected to grow from $5.8 trillion in 2021 to $6.4 trillion in 2022 at a growth rate of 9.7%. The food and beverage market size is expected to grow to $8.9 trillion in 2026 at a compound annual growth rate of 8.7%.
The amendment makes QR codes mandatory on every active pharmaceutical ingredient. The Amendment Rules will come into force from January 01, 2023.
According to New York Times, in a small clinical trial, 18 patients took a drug called Dostarlimab for around six months, and in the end, every one of them saw their tumours disappear.
As the war in Ukraine and pandemic disruptions continue to wreak havoc on supply chains, stagflation is here to stay – marked by low growth and high inflation for at least the next 12 months.
The pandemic as well as the war in Ukraine have stifled supply of commodities and goods and upended efficient distribution through global supply chains, forcing up prices of everyday goods such as fuel and food.