Reaching 2030 Climate Targets – Key Laws Passed By European Parliament
The European Parliament has approved five new laws as part of the “Fit for 55 in 2030 package,” aimed at reducing greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. The new laws include reforms to the Emissions Trading System (ETS), a new Social Climate Fund, the inclusion of greenhouse gas emissions from the maritime sector in the ETS, and the creation of a new Carbon Border Adjustment Mechanism (CBAM) to incentivize non-EU countries to increase their climate ambition.
