EU ‘Fit for 55’

This resource page focuses on the European Commission’s ‘Fit for 55’ package which encompasses a number of wide ranging legislative proposals aimed at reducing European Union (EU) greenhouse gas (GHG) emissions by 55% by 2030 and achieving climate neutrality by 2050.

The ‘Fit for 55’ package envisages a comprehensive transformation across all parts of the economy, and will affect various sectors along the entire value chain, covering a wide range of goods and services – domestic and imported – sold in the EU. The proposals may also set a precedent for other countries to consider similar actions to achieve their climate ambitions.

The package is now subject to discussion, change, and approval by the European Parliament and the Council of the EU.

Affected industries and countries should consider providing input in the legislative process and preparing their business to maximize benefits and mitigate risks.

Sidley’s dedicated team is closely following all of the EU’s unfolding green initiatives and can help clients maximize the significant opportunities and overcome the challenges the EU’s regulatory changes present for both EU and non-EU companies. To that end, the team has reviewed each proposal in the ‘Fit for 55’ package and the series of White Papers below provide an overview of all the proposals and set out key takeaways.