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JPMorgan Chase lowered its price target for FedEx (FDX.N) from $460 to $400.On September 8th, the Bolivian Ministry of Defense announced on social media that the Bolivian Army had recovered a ninth body from the rubble of an explosion at a military camp in Biyazza, western Bolivia, bringing the death toll to nine. The post stated that rescue efforts were ongoing and authorities were investigating the cause of the explosion. According to local media reports, the incident also resulted in 84 injuries and five people missing. Bolivian police reported on the evening of September 4th that an explosion occurred at a military camp in Biyazza.On September 8th, Lu Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs, stated that in the first eight months of the year, my countrys exports and imports from 112 countries and regions both increased, 17 more than the same period last year. my countrys trade with ASEAN grew by over 20%, solidifying its position as each others largest trading partner. This month, the 23rd China-ASEAN Expo will be held in Guangxi, and on August 31st, Nanning Customs supervised and released the first batch of imported exhibits. Economic and trade cooperation between my country and ASEAN will continue to deepen and become more practical, contributing to the common development of both sides.The yield on Japans 30-year government bonds fell 6 basis points to 3.960% during the day.September 8th - According to Sinopharm Holdings, Sinopharm Holdings and Hansoh Pharmaceutical recently reached a strategic cooperation agreement, simultaneously implementing special cooperation agreements on broad market, medical access, retail, and DTP (Direct-to-Patient) services. This will promote the transformation of Sinopharm-Hansoh cooperation from traditional business connections to a comprehensive strategic collaboration across the entire chain and lifecycle.

EU Plans to Issue One-year Renewable Energy Licenses to Accelerate Green Shift

Charlie Brooks

May 10, 2022 09:46

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A draft paper indicates that the European Union executive aims to accelerate the bloc's green transition and reduce its dependency on Russian fuels by allowing some renewable energy projects to acquire permits within a year.


Brussels will present next week a package of steps to decrease the European Union's dependence on Russia by promoting renewable energy, conserving energy, and expanding gas imports from other countries.


The draft legislative proposal indicates that the European Commission will propose rules forcing countries to designate "go-to zones" of land or water suitable for renewable energy projects, where such projects would have minimal environmental impact.


This could be extended by three months under "exceptional circumstances."


This is in contrast to the EU's present two-year deadline for permitting such schemes, which can be extended by an additional year. According to the plan, projects outside of go-to locations would adhere to this timeframe.


However, renewable projects frequently suffer even lengthier delays due to red tape, local opposition, or concerns about safeguarding endangered species, generating concerns that the bloc may struggle to increase wind and solar energy quickly enough to fulfill climate change objectives.


According to the Hellenic Wind Energy Association, it typically takes eight years to approve wind energy projects in Greece.


"Renewable energy sources are essential to combat climate change, cut energy prices, lessen the Union's reliance on fossil fuels, and safeguard the Union's supply security," the document stated.


The approval and construction of renewable energy projects would be deemed to be in the "overriding public interest," allowing for a streamlined evaluation. The proposal said that EU people will continue to have the ability to participate in project choices.


Avoiding protected regions and bird migration routes, priority would be given to constructed areas such as rooftops, roads and railways, industrial sites, and public land surrounding them.


The general areas would be subject to an environmental review, but individual projects would no longer require one unless they had a major impact on the environment in another EU country, according to the proposal.


Smaller projects with a capacity of less than 150 kW in go-to zones would experience a six-month approval process, or nine months if there are safety or power system impact concerns.


The expedited permission rules would not apply to facilities that generate energy by burning biomass.