The ‘Fit for 55’ package is an important step towards implementing the Green Deal and the EU’s ambitious climate targets.
On 14 July 2021, the European Commission presented the ‘Fit for 55’ package and adopted 12 proposals to shape EU climate, energy, land use, transport and tax policies to reduce net greenhouse gas emissions by at least 55 percent by 2030 compared to 1990 levels.
The ‘Fit for 55’ package proposes an unprecedented set of ambitious objectives and plans to be implemented by 2030. A key component is the significant revision and strengthening of the EU Emissions Trading System (ETS) targets and carbon pricing signals in line with the proposed 2030 ambitions. The package also includes updates to the EU’s Renewable Energy Directive (RED) and its Energy Efficiency Directive (EED), which set targets for the share of renewables and lower energy use. The RED reform proposal would increase the 2030 target for renewables from 32% of the EU energy mix to 40%, roughly double the level reached in 2019 of 19.7%.
Find more about the Fit for 55 here.