‘Fit for 55’ is the EU package delivering on the 2030 Climate Target to climate neutrality.
The EU has set ambitious targets for reducing net emissions by at least 55% by 2030 compared to 1990. Reaching this goal targets on being the first climate neutral continent by 2050. The package of proposals is the approach to make the EU ‘fit for 55’ and deliver on the questions that arise with the goal. All share the benefits of more space for nature, cleaner air, cooler and greener cities. Thus, the opportunity to take action is open to all innovators and investors, companies and cities, consumers, households and individuals. The challenge is a swift green transition, while strengthening competitiveness, job creation and positive impacts of the transition.
The European Green Deal is the blueprint for transformational change. There is growing public support for climate ambition and action. The proposals fundament are policies and legislation the European Union has already put in place. The package is based on evidence. The 2030 Climate Target Plan assesses the opportunities and costs of the green transition, and showes that the balance is a positive one if we get the policy mix right.
The Fit for 55 Package alone is not enough and cannot deliver the global emission reduction the world needs. However, the EU remains committed to the multilateral global order and calls upon partners around the world to work together. The 26th United Nations Climate Change Conference of the Parties (‘COP26’) in Glasgow in November 2021 is one of the events for global target setting.
|“The Fit for 55 Package: At a glance|
The Fit for 55 package consists of a set of inter-connected proposals, which all drive towards the same goal of ensuring a fair, competitive and green transition by 2030 and beyond. Where possible existing legislation is made more ambitious and where needed new proposals are put on the table. Overall, the package strengthens eight existing pieces of legislation and presents five new initiatives, across a range policy areas and economic sectors: climate, energy and fuels, transport, buildings, land use and forestry.The legislative proposals are backed by impact assessment analysis, which takes into account the interconnection of the overall package. The analysis shows that an over-reliance on strengthened regulatory policies would lead to unnecessarily high economic burdens, while carbon pricing alone would not overcome persistent market failures and non-market barriers. The chosen policy mix is therefore a careful balance between pricing, targets, standards and support measures.Support measures•Using revenues and regulations to promote innovation, build solidarity and mitigate impacts for the vulnerable, notably through the new Social Climate Fund and enhanced Modernisation and Innovation Funds.” European Commission
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