ESG Thema #2 - EU Fit for 55 package

The EU formally adopted in June its new objective of cutting the bloc’s greenhouse gas emissions by 55% by 2030 versus 1990. This represents a substantial increase in the bloc’s ambition compared to the previous 40% reduction target and sets an interim target close to the range of domestic emissions reductions of 58-70% deemed consistent with the Paris Agreement by Climate Action Tracker. As such, this objective places the European Union as a leading region on climate change mitigation efforts.

However, with existing and planned measures, the EU’s carbon emissions are expected to fall only 36% below 1990 levels by 2030. The new target therefore required to strengthen and extend climate policies. This is the very purpose of the “Fit for 55” package: a comprehensive list of policies proposed by the European Commission on 14 July, 2021 to achieve its greenhouse gas emissions reduction target of 55%.

You can now read the full whitepaper at the link below