Under the pressure of climate change and the urgency to act, the European Union has recently adopted the European Climate Law which enshrines into binding legislation the objective of climate neutrality by 2050 as well as an intermediate target of a 55% cut in emissions by 2030 compared to 1990 levels.
Having increased the EU’s target from 40% to 55%, the new Law will require the transport, buildings, industry, agriculture, infrastructure and energy sectors to contribute their fair share to the EU’s climate objective. In line with that new ambition the European Commission unleashed on 14 July a wave of new climate and energy legislation to make the EU “Fit for 55”.
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Authors: Alexios Simintzis and Ivan Pozgaj who work in the Energy & Natural Resources practice in Brussels.