COMPLETION OF THE FIT FOR 55 PACKAGE
On 9 October, the Council of the EU endorsed the revised Renewable Energy Directive and the ReFuelEU Aviation Regulation, marking the final two components of the 'Fit for 55' legislative package designed to help the EU achieve its 2030 climate targets.
For reference, the 'Fit for 55' package was initially introduced in July 2021 to align with the EU Climate Law's requirements, which call for a reduction in Europe's net greenhouse gas (GHG) emissions of at least 55% by 2030. It was subsequently updated by the Commission with more ambitious goals for renewable energy and energy efficiency in response to Russia's invasion of Ukraine. The legislative package is anticipated to decrease EU net GHG emissions by 57% by 2030.
As of now, the EU has established legally binding climate targets that encompass all major sectors of its economy. The Package includes emission reduction targets for various sectors, aims to enhance natural carbon sinks, and introduces updates to the emissions trading system. Additionally, the EU has updated targets for renewable energy and energy efficiency, and it has committed to phasing out new high-polluting vehicles by 2035 while also expanding charging infrastructure and promoting the use of alternative fuels in road transport, shipping, and aviation.
Source: European Commission