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EU proposes radical ‘Fit for 55’ climate action plan

14 July 2021

The European Commission unveiled a proposed climate package, dubbed ‘Fit for 55’, that sets a goal to reduce carbon emissions by 55% by 2030, compared to 1990 levels. From 1990 to 2019 the EU reduced emissions by 24%. Under today’s proposal, emission would have to decline by another 31% in just 9 years.

The proposed climate action plan includes a number of new and revised regulations, including:

The scale of the plan is unprecedented. It severely restricts the (fossil) energy input to the economic system, and has a potential to destabilize the European economy. By putting an upward pressure on energy price, it would have an impact on the life and wellbeing of every citizen of Europe—particularly on the less affluent social groups.

BBC’s Matt McGraph said in his editorial on the proposal: The Commission is betting that instead of hordes of yellow-vest protesters taking to the streets, citizens will be willing to pay a price for cleaner air, lower emissions, and more sustainable lifestyles. The rest of the world will watch this huge gamble with interest.

The ‘Fit for 55’ proposals will require approval by EU member states and the European parliament, a process that could take as long as two years. Opposition can be expected from eastern member states that rely heavily on coal, as well as from some industries, including airlines and vehicle manufacturers.

Source: European Commission