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Spain to Outlaw Diesel, Gasoline Car Sales in 2040 Under New Law

Spain to Outlaw Diesel, Gasoline Car Sales in 2040 Under New Law

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Spain is considering a ban on sales of diesel and gasoline cars beginning in 2040 to counter climate change.

Outlawing new polluting automobiles is one of several measures envisioned in coming legislation, as Spain tries to bring national regulations into line with countries including the U.K. and France, according to a briefing note circulated to journalists.

The draft law would set goals for 2030 and 2050 in cutting emissions and promoting renewable power and energy efficiency. It’s part of Spain’s effort to enshrine its obligations under the Paris Climate Accord. It must seek to reduce greenhouse gas emissions by 20 percent from 1990 levels in 2030 and by 90 percent in 2050, according to the government.

Once the law takes effect, no new oil exploration licenses will be awarded. Fracking will be prohibited and no license extensions will continue beyond 2040, the government said.

Source: Bloomberg L.P.
Anand Gupta Editor - EQ Int'l Media Network

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