The European Parliament has proposed a motion which would make mandatory for each individual EU member state to reach carbon neutrality by 2050 and to achieve net greenhouse gas (GHG) removals after this date. In addition, EU lawmakers proposed to tighten EU’s 2030 climate target, with an objective of a 65% cut in GHG emissions from 1990 levels. The text needs to be approved by lawmakers and member states to take effect.
In March 2020, the European Commission presented a text which would force EU, as a bloc, to cut net GHG emissions to zero by 2050, authorising some members to decarbonise later, if others did so early. In addition, the Commission favoured a 50-55% cut in GHG emissions from 1990 levels by 2030. The consultation is open until the end of June 2020 and the new target will be proposed in September 2020. The European Commission plans to revise regulations on the carbon market, renewable energy and energy efficiency by June 2021. The European Union aims to become the first climate-neutral region in the world by 2050, according to its European Green Deal (December 2019).
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.
Energy and Climate Databases
Market Analysis