Strasbourg, 18 May 2022 (TDI): The European Parliament committees have adopted their position on laws to fight climate change through the reduction of greenhouse gas emissions and protecting jobs and citizens.
Parliament committees have adopted their position on key EU draft laws to combat climate change by reducing greenhouse gas emissions by at least 55 % by 2030 and to protect jobs and citizens ↓
— European Parliament (@Europarl_EN) May 18, 2022
Therefore, the Committee on Environment, Public Health and Food Safety adopted five “Fit for 55 in 2030 package” reports.
This plan by the EU is in agreement with the European Climate Law.
The EU aims to cut greenhouse gas emissions by at least 55 percent by 2030 compared to 1990 levels and to achieve net zero emissions (climate neutrality) by 2050 in compliance with the European Climate Law
Emissions Trading System (ETS) reform
As a result, the MEPs want to provide incentives for industries to reduce their emissions as well as invest in low-carbon technologies.
The reforms for the ETS include new ETS II for buildings and road transport, free allowances to be phased out from 2026 and end completely by the year 2030 and revenues to be utilized alone for climate action in EU and member states.
Higher ambition in new carbon leakage instrument
Furthermore, the MEPs called for a broader scope and quick implementation of the EU Carbon Border Adjustment Mechanism (CBAM).
Thus, so as to prevent carbon leakage and raise global climate ambition. Thereby, including phasing in CBAM early as well as ending free allowances by 2030 in EU ETS.
More to this, the EU budget has to support the least developed countries.
Therefore, this is through amounts equal to sums collected through CBAM.
Stricter rules for member states’ greenhouse gas emissions in other sectors
The MEPs amended the EU effort-sharing legislation, which covers GHG emissions in sectors not included in the ETS.
Firstly, the member states of the EU will have to reduce greenhouse gas emissions with targets of between 10-50%.
The new EU carbon sinks goal will increase the EU 2030 reduction target to 57%
Additionally, the MEPs agreed to raise the EU carbon sink target for Land use, land-use change, and the forestry (LULUCF) sector.
Thereby, it will in fact raise the EU’s 2030 GHG reduction target to 57%.
After the voting for the reports in June, the Parliament will be ready to begin negotiations with the governments of the EU.
