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Good morning.

From the newsroom of the Financial Times, today is Wednesday, November 28th, and this is your FT news briefing.

Today we'll be looking at the cost of Europe's ambitious new climate plan, which company briefly overtook Apple as the most valuable

in the world, and who's nearing a deal to buy Glaxo-SmithKlyne's nutrition business.

Then we'll tell you what to watch for as leaders from 20 of the most powerful countries in the world meet for the G20 summit on Friday.

I'm Eric Krupky and here's the news you need to start your day.

The EU is set to publish its new climate strategy roadmap today.

Leaders are preparing for the annual UN Climate Talks, which will take place in Poland next week.

The strategy outlines a range of plans to reduce carbon emissions and prevent global warming.

If the block wants to stay in line with the Paris Climate Accord, it needs to cut carbon emissions to net

zero by 2050. That would require up to 290 billion euros a year and additional investment

in Europe. According to a UN report, getting carbon emissions to net zero by 2050

is crucial to keep global warming limited to 1.5 degrees Celsius.

A rise in the global temperature by just that much could trigger

disastrous effects like extreme weather and famine. The Paris Accord left it up to

the signatories to decide which goal they should focus on.

EU member states have to submit a formal climate target to the UN in two years.

And this roadmap will be a cornerstone for member states as they decide on that target.

On Tuesday afternoon, Microsoft briefly reclaimed the title of the world's most valuable company.

The last time it had that distinction was almost two decades ago.

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