On July 9 2021, the EU published Regulation (EU) 2021/1119 (the European Climate Law), which enshrines in law the EU’s objective of becoming climate neutral by 2050, and the intermediate target of reducing net greenhouse gas (GHG) emissions by at least 55% by 2030. The European Climate Law will enter into force within 20 days following publication.
The European Climate Law is a central element of the European Green Deal, and its adoption sets the stage for a coming wave of “green” regulatory initiatives in the EU aimed at achieving the EU’s climate objectives. In particular, on July 14, the European Commission (Commission) is expected to present a series of legislative proposals – the “fit for 55 package” – setting out how the EU is expected to achieve the 2030 climate target.
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