The European Commission has tabled legislation to tighten the EU’s greenhouse gas (GHG) emissions reduction targets for 2030, to aim for a 55% reduction on 1990 emissions (up from the current target of 40%).
It has published an accompanying impact assessment considering the impacts of tighter emissions limits and also proposes:
- An expansion of the existing EU Emissions Trading Scheme (which sets a price on GHG emissions from large power generation and industrial installations) to also cover emissions from buildings and (intra-EU) shipping
- To review CO2 emissions performance standards for 2030 for cars and vans
- To revise existing EU 2030 targets for renewable energy deployment and energy efficiency
The updated 2030 targets are an important part of the Commission’s plan for the EU to be “climate neutral” (i.e. to reduce net GHG emissions to zero) by 2050.
Over the coming months, the Commission will develop its proposals through consultation with stakeholders, ahead of publishing draft legislation in June 2021. Click here to read the full climate plan.
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El impacto de la estrategia de descarbonización en las oportunidades de inversión del sector energético español