View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 12, 2018

Iceland to ban ICEs by 2030 to meet Paris deal

Iceland is to ban registrations of fossil fuel cars by 2030 as part of plans to meet the country's Paris Agreement targets and become carbon neutral by 2040.

Iceland is to ban registrations of fossil fuel cars by 2030 as part of plans to meet the country’s Paris Agreement targets and become carbon neutral by 2040.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The Climate Strategy was launched by Prime Minister, Katrín Jakobsdóttir and consists of 34 government measures, ranging from an increase in reforestation to a ban on new registration of fossil fuel cars by 2030.

The plan aims at transforming the transportation system from using imported fossil fuels to a carbon-free system run on renewable energy. It will be subject to public consultation and an updated strategy will be published in 2019.

“The government has secured substantial increase in funding for climate mitigation measures and now presents a new climate strategy, with clearly defined priorities,” said Jakobsdóttir.

“Ahead is a period of consultation with industry, municipalities and civil society on how to implement the strategy and individual actions. We have a clear determination to succeed in our goals in this most important issue; to reach our Paris Agreement goals by 2030 and the government’s stated aim for a carbon neutral Iceland by 2040.”

The main emphasis of the new plan is on two measures: 1) to phase out fossil fuels in transport, and 2) to increase carbon sequestration in land use, by afforestation, revegetation and restoration of wetlands.

Climate mitigation measures will get a substantial increase in funding – almost 7bn krónur (US$61m) in the period, 2019-2023. A general carbon tax, already in place, will be gradually increased.

Iceland already enjoys virtually carbon-free electricity and heating, thanks to its use of geothermal and hydro energy. Fossil fuels are used in transport and fisheries and now the aim is set for a push in decarbonizing those sectors.

Among the measures announces in the new plan are: increases in government support for charging stations and other infrastructure for electrical transport and other clean fuels; support for biofuel production; a strengthening of already subsidies for electrical cars and other clean vehicles; and support for public transport and bicycling.

Iceland has seen a considerable increase in the purchase of electrical cars recently, and the plan aims at greatly accelerating this trend in the coming years.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto