European Parliament adopts new EU Climate Law

Oct 08, 2020

 

On Wednesday October 8 the European Parliament adopted its position the new EU climate law. 


The new law aims to transform political promises that the EU will become climate neutral by 2050 into a binding obligation. It makes legally binding European’s 2050 goal of reducing greenhouse gases to net-zero and backs the ambitious target to reduce emissions by 60 percent compared to their 1990 levels, by as early as 2030.

Other decisions included:

  • a call for setting a 2040 emissions reduction target
  • a requirement for all EU countries to be climate-neutral by 2050
  • introducing a negative emissions target after 2050
  • creating an independent scientific body to monitor the EU’s green path
  • phasing out all direct and indirect fossil fuel subsidies by 2025.

The adoption of this position by the European Parliament is intended to give European citizens and businesses the legal certainty and predictability they need to plan for the transformation.