Our lead story this week covers the challenges Europe is facing in balancing environmental regulations along with attracting investment, industry, and development. The ambitions set for ‘Net Zero’ are huge and come with a massive cost; but as the deadlines become tangible, pressure is building up for the governments of Europe. As record-breaking heatwaves are being observed across the north of the Mediterranean, climate activists are protesting Rishi Sunak’s decision to open the North Sea to more oil and gas drilling, by draping a black fabric on his house. But, on the other hand, it is also true that opposition is building up against the high targets. For instance, Italian Prime Minister Giorgia Meloni is pushing back on bloc-wide efficiency standards that could require mass renovation of buildings across Europe. According to her, climate policy shouldn’t affect ordinary citizens. Despite those claims, analysts say rolling back the already agreed-upon E.U. rules remains a long shot. However, new agreements are more vulnerable.

During a speech on reviving the French industry, President Emmanuel Macron in May called for “a European regulatory break.” Last year, the 27-nation bloc reached a pioneering settlement to end the sale of non-electric cars by 2035 for good. But this year, a group of countries sought to water down the rules. The E.U. has reduced its per capita emissions by 29 percent since 1990 but still has far to go. But with a war affecting global prices and driving up inflation, especially in Western countries, Europeans are focusing on costs. Research is showing strong backing for reducing emissions in Britain and Europe. Then again, the enthusiasm weakens when the investigators ask more detailed questions about the public’s inclination to change their way of life or shell out money for the cause. It remains to be seen how they will fulfill their obligations. Read Now!