The Committee on Environment, Public Health and Food Safety of the European Parliament has adopted five reports of the Fit for 55 in 2030 package, which aims to reduce greenhouse gas (GHG) emissions by at least 55% by 2030 compared to 1990 levels and to reach climate neutrality by 2050 in line with the European Climate Law.
The Committee proposes to reform the EU Emissions Trading System (ETS) by creating a new scheme for buildings and road transport with the inclusion of citizens after 2029, phasing out free allowances from 2026 with an end by 2030, introducing a bonus-malus system from 2025 and mandating revenues to be used only from climate action in EU and member state. In addition, the EU Carbon Border Adjustment Mechanism (CBAM) should be broadened and implemented more quickly to prevent carbon leakage and raise global climate ambition. In addition, the EU effort-sharing legislation, covering GHG emissions in sectors not included in the ETS (around 60% of EU emissions) was amended: for the first time, all EU member states would have to reduce GHG emission with targets ranging between 10-50%. Finally, the Committee proposed to increase the EU carbon sinks target for land use, land use change and forestry sector (LULUCF), which would de facto increase the EU’s 2030 GHG reduction target to 57%.
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