Today, the Commission has proposed detailed rules to define what constitutes renewable hydrogen in the EU, with the adoption of two Delegated Acts required under the Renewable Energy Directive. These Acts are part of a broad EU regulatory framework for hydrogen which includes energy infrastructure investments and state aid rules, and legislative targets for renewable hydrogen for the industry and transport sectors. They will ensure that all renewable fuels of non-biological origin (also known as RFNBOs) are produced from...

Novel survey shows how concerned people are about climate change, how they view mitigation polices, and what drives support for climate action People across the world worry about climate change, but that concern alone doesn’t translate into support for climate mitigation policies. That’s our finding based on a recent survey designed to better illustrate how people perceive the risks from climate change and their support for government climate actions. Responses also show that those who were more concerned about climate change tend...

Speech by Governor Christopher J. Waller at the 2023 Arkansas State University Agribusiness Conference, Jonesboro, Arkansas, February 08, 2023 | Thank you, Bert, and thank you for the opportunity to talk about where the economy is heading, what the Federal Reserve is doing to get inflation back down to our 2 percent goal, and how all that is likely to affect American agriculture.1 The big picture is that the U.S. economy is adjusting well so far to the higher interest rates...

Trade openness increased after the Second World War, but has slowed following the global financial crisis The free flow of ideas, people, goods, services, and capital across national borders leads to greater economic integration. But globalization, the trend toward these things moving ever more freely between nations, has seen ebbs and flows over the decades. Those trends are coming into sharper focus this year as policymakers work to understand and address the prospect of geoeconomic fragmentation, which threatens to undo the...

The European Union – together with the international G7+ Price Cap Coalition – have today adopted further price caps for seaborne Russian petroleum products (such as diesel and fuel oil). This decision will hit Russia's revenues even harder and reduce its ability to wage war in Ukraine. It will also help stabilise global energy markets, benefitting countries across the world. It comes on top of the price cap for crude oil in force since December 2022, and will complement the...

The ECB has asked people in the euro area how they pay and which payment methods they prefer. The ECB Blog discusses our survey findings and what they mean for the future of cash and digital means of payment. Digitalisation has changed, and will continue to change, the way people make payments. Today’s payment options are in some ways unrecognisable from what was available a decade ago. Using a device or app, you might pay for your groceries with your...

The fight against inflation is starting to pay off, but central banks must continue their efforts The global economy is poised to slow this year, before rebounding next year. Growth will remain weak by historical standards, as the fight against inflation and Russia’s war in Ukraine weigh on activity. Despite these headwinds, the outlook is less gloomy than in our October forecast, and could represent a turning point, with growth bottoming out and inflation declining. Economic growth proved surprisingly resilient in the...

Today, the Commission presents a Green Deal Industrial Plan to enhance the competitiveness of Europe's net-zero industry and support the fast transition to climate neutrality. The Plan aims to provide a more supportive environment for the scaling up of the EU's manufacturing capacity for the net-zero technologies and products required to meet Europe's ambitious climate targets. The Plan builds on previous initiatives and relies on the strengths of the EU Single Market, complementing ongoing efforts under the European Green Deal...