Brussels, 21 April 2021
On the 21st of April, MEPs reached an informal agreement with the Member States on the EU Climate Law, a few days before US President Biden would host a Leaders’ Summit on Climate.
The new EU Climate Law increases the EU’s 2030 emissions reductions target from 40% to at least 55% as compared to 1990 levels.
While avoiding greenhouse gas (GHG) emissions must be the priority, the law recognizes that already emitted GHG will need to be removed to compensate for GHG emitted by sectors where decarbonization is most challenging. To ensure that sufficient reductions are made by 2030, the contribution of removals towards the 2030 climate target shall be limited to 225 Mt CO2 equivalents.
The Commission shall make a proposal for a 2040 target at the latest six months after the first global stock-taking of the Paris Agreement. In line with Parliament’s proposal, the Commission must take into account the EU’s projected indicative GHG budget, defined as the total GHG emissions expected to be emitted without risking the EU’s commitment under the Paris Agreement, for the period 2030-2050.Source: European Parliament