End to climate restrictions: EPA repeals all emissions standards for fossil fuel power plants in the United States

The United States Environmental Protection Agency (EPA) has repealed all emissions standards for fossil fuel-powered power plants. The decision eliminates federal climate restrictions on these facilities, which represent the second-largest source of carbon dioxide emissions in the country, trailing only the transportation sector and following years of attempts by various administrations to regulate them.

Simultaneously, European financial and regulatory markets responded to broader economic and environmental pressures. The Ibex 35 closed flat with a minor decline as investors monitored global sovereign bond yields and the United States Federal Reserve, while the European Parliament backed measures to grant the European carbon dioxide market greater operational margin to prevent severe price volatility.