European Union lawmakers and member countries reached a deal to ban the sale of new gasoline and diesel cars and vans by 2035.

Under the deal reached by negotiators on Thursday, carmakers will be required to reduce the emissions of new vehicles sold by 55 per cent in 2030, compared to 2021, before reaching a 100 per cent cut five years later. The European Parliament and member states must formally approve the agreement before it comes into force.

The European Parliament said the deal is a signal ahead of COP27, the United Nations’ annual climate change conference, “that the EU is serious about adopting