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Photographer: Ksenia Kuleshova/Bloomberg By John Ainger and Ewa Krukowska +Follow July 12, 2023 at 10:29 AM GMTUpdated onJuly 12, 2023 at 11:54 AM GMT LISTEN TO THIS ARTICLE 1:27 SHARE THIS ARTICLE Copied Gift Gift this article Exit Subscriber Benefit Bloomberg subscribers can gift up to 5 articles a month for anyone to read, even non-subscribers! Learn more Subscribe Sign In Follow the authors @johnainger + Get alerts forJohn Ainger @E_Krukowska + Get alerts forEwa Krukowska GREEN DATA DASH Open European Union lawmakers narrowly backed a measure to restore natural habitats, clearing a major political hurdle and preserving a pillar of the bloc’s climate and sustainability agenda. The European Parliament voted 336-300 in favor of a plan to set binding targets to revive degraded ecosystems. Thirteen lawmakers abstained. “This is a good law” said Cesar Luena, the lead lawmaker on the proposal and a member of the Socialists and Democrats group. “Seventy years of the European project, and we’re going to now start working on a proper nature restoration law.” The measure is a key feature of the Green Deal, the European Commission’s plan to curb emissions, minimize environmental damage and reach climate neutrality by mid-century. The European People’s Party, the biggest group in the assembly, had argued it could harm food security and stoke inflation. The political discord could be a harbinger of future challenges on climate matters due to fears about the costs of the transition. Other parties had accused the EPP of opposing the measure to win votes in the name of protecting farmers and businesses. More from Bloomberg green Fossil-Fuel Demand for Electricity May Have Peaked Globally NextDecade Will Move Ahead on $18.4 Billion Texas LNG Plant Texas Power Use Hits Record as Solar, Wind Keep Grid Running A Supermarket Magnate Charts a Path for Japan’s Untapped Geothermal Power Read more: A River at Europe’s Heart Gives Riled Farmers a Climate Solution In the next step, the European Parliament and the bloc’s 27 member states will start talks about the final shape of the law. Frans Timmermans, the commission’s executive vice president in charge of the Green Deal, said his mission in the coming months is to convince “those who voted against today that this is a law that would really help European nature recovery.” — With assistance by Sofia Gerace and Jorge Valero (Updates with additional details throughout.) SHARE THIS ARTICLE Copied Gift Gift this article Exit Subscriber Benefit Bloomberg subscribers can gift up to 5 articles a month for anyone to read, even non-subscribers! Learn more Subscribe Sign In Follow the authors @johnainger + Get alerts forJohn Ainger @E_Krukowska + Get alerts forEwa Krukowska GREEN DATA DASH Open Have a confidential tip for our reporters? Get in touch Before it's here, it's on the Bloomberg Terminal Learn more LIVE ON BLOOMBERG Watch Live TVListen to Live Radio Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration 0:00 Loaded: 0% 0:00 Progress: 0% Stream Type LIVE Remaining Time -0:00 Playback Rate 1x Chapters * Chapters Captions * captions settings, opens captions settings dialog * captions off, selected Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Play Again MOST READ * Markets Saudi Arabia’s PIF Wealth Fund Takes $11 Billion Investment Hit * Markets Bond Yields Fall on Bets Fed Nearing End of Hikes: Markets Wrap * Pursuits The Vacation Picture That’s Sparked a Multimillion-Dollar Global Industry * Markets Why Private Equity Is Chasing Plumbers and Lumber Yards * Markets Meme Stocks Are Back, Raising a ‘Red Flag’ for the Broader Market Copy Link MORE FROM BLOOMBERG European Power Prices Plunge Below Zero as Solar Output Booms Hot Temperatures to Return to Europe in July Amid Drought Alert EU Set to Exit From Controversial Energy Charter Treaty European Power Prices Go Below Zero Again as Solar Output Surges TOP READS Europe Can’t Supply Ukraine With Weapons Fast Enough, Here’s Why by Natalia Drozdiak, Jonas Ekblom and Alexander Michael Pearson Spain May Be Moving Too Fast in Its Green Energy Push by Thomas Gualtieri A River at Europe’s Heart Gives a Climate Solution to Riled Farmers by John Ainger Wagner Will Keep Part of Its African Business After Russian Mutiny by Bloomberg News Terms of Service Manage Cookies Trademarks Privacy Policy ©2023 Bloomberg L.P. 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