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EU Parliament: Fit for 55, key laws adopted to reduce greenhouse gas emissions by 2030

(Strasbourg) During its plenary session in Strasbourg today, the European Parliament has finally approved five new laws which are the result of deals reached with EU countries in late 2022. They are part of the “Fit for 55 in 2030” package, the EU strategy “to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels, in line with the European Climate Law”. The reform of the Emissions Trading System (ETS) was adopted with 413 votes in favour to 167 against and 57 abstentions. This reform – the European Parliament said in a statement – increases the EU’s climate ambition “as greenhouse gas emissions in the ETS sectors must be cut by 62% by 2030 compared to 2005-levels. It also phases out free allowances to companies from 2026 until 2034”. A separate new ETS II will be created for fuel for road transport and buildings. Parliament also approved the inclusion, for the first time, of greenhouse gas emissions from the maritime sector in the ETS and the revision of the ETS for aviation.

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