The European countries officially accepted the new climate change law for emissions reductions on Monday 28th of June. The climate change law sets a renewed target of 55% GHG emissions cut by 2030 from 1990 levels and zero emissions for the bloc by 2050.
The EU countries’ approval is the last final step that makes the emissions reduction target legally binding. All 27 countries agreed to the deal except Bulgaria that abstained. “The final compromise does not reflect our national position sufficiently,” according to a Bulgarian government spokesman.
The 55% reduction target applies to the EU bloc as a whole and not to specific countries. The goal was agreed by all members in December last year. If the example of the EU leaders is followed globally, it could pave the way for avoiding the worst consequences of climate change with a global warming of more than 1.5 degrees Celsius increase.
Climate Change Law Adjustments
Following the new law by European countries would entail adjustments and changes of all EU policies that were designed to meet the previous target of a 40% cut. Some of the changes would include reforms in the EU carbon market, tougher CO2 standards for new cars, and more ambitious renewable energy targets.
These upgrades are set to begin on July 14th. The European Commission is expected to come up with proposals on a number of policies to reshape industry, energy, transport and housing to emit less CO2.
Under the new climate change law, Brussels will have to launch an independent expert body to advise on climate policy. There will be a new budget-like mechanism for the calculations of the total emissions left for the EU to produce from 2030-2050 to meet the climate targets.
The new climate change policy shows an improvement of the previous emissions cap and is better expected to help the EU achieve climate neutrality by 2050. It shows political confidence in leading the transition towards a net zero economy.