German utility RWE, Europe’s largest corporate producer of carbon dioxide, has pledged to become carbon neutral by 2040. Chief executive Rolf Martin Schmitz announced the target at an event in Essen, saying “Today begins the era of the new RWE. Every energy has its time. Now comes the era of renewables.” The company’s task will be partly facilitated by the planned coal phase-out in Germany by 2038, and partly by its acquisition of the renewable assets of both E.ON and Innogy, which was recently approved by the relevant authorities. However, it will still need to deal with its gas-fired power stations in Germany, and other fossil-fired assets in other parts of Europe. The 2040 target is an extension of the company’s plan to cut emissions by 70% by 2030; between 2012 and 2018, it already lowered them by 33%, or 60 million tonnes per annum.