EU Introduces ‘Fit for 55’ Legislation
On 14th July, 2021, the European Union introduced the ‘Fit for 55’ package - new legislation that proposes sweeping changes - to cut its greenhouse gas (GHG) emissions by 55 per cent by 2030 (compared with 1990 levels) and to net zero by 2050.
- The proposals require endorsement by the European Parliament and leaders of European national governments before they become law, a process that is expected to take around two years.
Background
- The EU, in December 2020, had submitted a revised Nationally Determined Contribution (NDC) under the Paris Agreement.
- The new package (Fit for 55) attempts to deliver the NDC and ....
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