The European Commission has set out its ‘Fit for 55’ proposals.

All 27 EU Member States have pledged to reduce emissions by at least 55% by 2030, compared to 1990 levels, and committed to turning the EU into the first climate neutral continent by 2050. it is part of the European Green Deal, which set the blueprint for this transformational change.

Read the press release here.

There is also a new strategy to protect and restore EU forests, including a plan to plant three billion trees across Europe by 2030.

Summary below from Euractiv.

The European Commission on Wednesday (14 July) proposed a template for sharing out the burden of cutting greenhouse gas emissions within the EU, setting out national targets that the 27 member states are certain to wrangle over.

The European Union’s executive was launching a sprawling package of climate policy proposals, all designed to hit the EU’s goal of cutting net emissions by 55% by 2030, from 1990 levels.

Most EU regulations are designed to meet an old target of a 40% cut, and the Commission said on Wednesday the new target had to mean tougher binding national goals for all.

Under the EU’s “effort sharing” rules, each country will have to curb emissions in specific sectors – including transport and heating buildings – by an amount calculated from its per capita economic output.

That means richer EU countries have tougher targets than poorer ones. The goals are also adjusted to make sure that emissions cuts happen in a cost-effective way.

Details….

The main elements of the proposals are

• A revision of the EU Emissions Trading System (ETS), including maritime, aviation and CORSIA. The Commission is also suggesting extending ETS to road transport and buildings
• A Carbon Border Adjustment Mechanism (CBAM)
• A review of the Effort Sharing Regulation (ESR)
• Amendments to the Renewable Energy Directive (RED) to implement the ambition of the new 2030 climate target
• Amendments to the Energy Efficiency Directive (EED) to implement the ambition of the new 2030 climate target
• A revision of the Regulation on the inclusion of greenhouse gas emissions and removals from land use, land use change and forestry (LULUCF)
• A revision of the Energy Taxation Directive (ETD)
• A revision of the Directive on deployment of alternative fuels infrastructure (AFID)
• A ReFuelEU aviation proposal (on sustainable aviation fuels)
• A FuelEU Maritime proposal (on green European maritime space)
• A revision of the Regulation setting CO2 emission performance standards for cars and vans,
• A proposal for a Climate Action Social Facility

The reaction of the Greens in the European Parliament was broadly favourable.