Global Markets: Trudeau pledges new GHG emission cuts

WINNIPEG, April 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Prior to a two-day virtual Earth Day climate summit hosted by United States President Joe Biden, Prime Minister Justin Trudeau announced today a new pledge for Canada to reduce greenhouse gas emissions by at least 40 per cent from 2005 levels within the decade. The new target aims to better the government’s previous commitment to reduce GHG levels by 36 per cent by 2030. Some climate groups believe Canada should try for at least 50 per cent reduction in emissions in order to keep warming under 1.5 degrees Celsius. Biden announced the U.S. will cut emissions by at least 50 per cent by 2030.

– India reported a global record of 314,835 new COVID-19 cases in 24 hours, raising its total past 15.9 million cases since the pandemic began. In that 24-hour period, 2,104 people died from the virus, raising the death toll to 184,657. The Delhi High Court ordered on Wednesday for oxygen tankers to be diverted away from industrial use and put into hospitals.

– The European Union is considering taking legal action against AstraZeneca over shortfalls in the deliveries of its COVID-19 vaccine. An anonymous EU official told CNBC there was large support from ambassadors to proceed with a lawsuit and it will only be a matter of days before it is filed.

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