IATE Term of the Week: Fit for 55

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We have already introduced you to what the European Green Deal is – an ambitious plan with a set of policy measures aimed at fully decarbonizing the energy sector and helping the EU to lead the global efforts toward climate issues.

https://iate.europa.eu/search/result/1636715000795/1

On 14th July 2021 the European Commission adopted a package of concrete policy changes to make make the EU’s climate, energy, land use, transport and taxation policies meet the target for greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. If the targets are achieved the EU will become the first climate-neutral continent by 2050. This package is called “fit for 55” and its goal is to “make the EU ‘fit for 55’ and deliver the transformational change needed across our economy, society and industry.” Below you can find some of the proposals contained in the Commissions proposal:

  • Revision of the EU Emissions Trading System (ETS), including maritime, aviation and CORSIA as well as a proposal for ETS as own resource
  • Carbon Border Adjustment Mechanism (CBAM) and a proposal for CBAM as own resource
  • Effort Sharing Regulation (ESR)
  • Revision of the Energy Tax Directive
  • Amendment to the Renewable Energy Directive to implement the ambition of the new 2030 climate target (RED)

The “fit for 55” contains specific proposals for driving the green transition of the Union. However, EU’s green goals cannot be achieved without a fruitful dialogue and cooperation with other global leaders. Therefore, the EU is actively working to achieve the goals set by the EU Green Deal with G7 and G20 countries. This policy package is also an important tool in maintaining this active dialogue and setting up the agenda for COP26 Conference in Glasgow that took place earlier this November. During the interinstitutional negotiations for the European Climate Law, the European Parliament has pushed for an even higher percentage – 60%. The final decision for 55% endorsed by the Council has nevertheless reflected the Parliament’s demand for more decisive measures regarding the target for 2050.

Reference:

  1. European Commission (14.07.2021) European Green Deal: Commission proposes transformation of EU economy and society to meet climate ambitions. [Online] Available at: https://ec.europa.eu/commission/presscorner/detail/en/ip_21_3541 [visited on 12.11.2021]
  2. European Parliament. (2021) Revising the Energy Efficiency Directive: Fit for 55 package. [Online] Available at: https://www.europarl.europa.eu/RegData/etudes/BRIE/2021/698045/EPRS_BRI(2021)698045_EN.pdf [visited on 12.11.2021]
  3. European Parliament (2021) Legislative Train Schedule. Fit for 55 package under the European Green Deal. [Online] Available at: https://www.europarl.europa.eu/legislative-train/theme-a-european-green-deal/package-fit-for-55 [visited on 12.11.2021]
  4. European Parliament Think Tank. (09.09.2021) The von der Leyen Commission’s six priorities: State of play in Autumn 2021 – Think Tank. [Online] Available at: https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_IDA(2021)696205 [visited 12.11.2021].

Written by Daniela Ignatova

She holds degrees in both Public Relations and European Governance. Currently, Daniela is combining her passion for communications and social media with her interest in the work of European institutions.