Challenges in EU regulations, clean technology investment, and global tax reforms

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EU regulations face challenges in enforcement due to the power of tech giants with extensive legal resources. Despite global clean technology investment set to reach $2 trillion this year, experts believe double this amount is needed annually by the early 2030s to meet net zero goals. Fossil fuel demand in the EU and US has likely peaked, with renewables becoming more cost-effective. However, global tax reforms, particularly the pillar one reforms aiming to tax multinational digital companies, are stalled due to political gridlock in the US Senate.

Shares of electric vehicle start-up Rivian surged in extended trading after Volkswagen announced a plan to invest up to $5bn, global investment in clean energy is set to hit $2tn and the EU charged Microsoft for violating antitrust laws yesterday. Plus, the FT’s Emma Agyemang explains why a deadlock in the US Senate is threatening to upend a global tax treaty.

Mentioned in this podcast:

Rivian shares soar on Volkswagen plan to invest up to $5bn

Clean tech investment set to hit $2tn in 2024

EU charges Microsoft with antitrust violations over Teams

Global tax truce frays over fears of US Senate deadlock

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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