European Union Commission announces the European Green Deal

European Union Commission announced the European Green Deal with concrete milestones and tools to making EU climate-neutral by 2050, making transport sustainable for all, cleaning the EU energy system, renovating buildings for greener lifestyles and much more. Under this new green deal, the EU Commission proposed, and EU leaders endorsed new targets to reduce net emissions by at least 55% by 2030 (compared to 1990 levels). These targets are added to the European Climate Law that was adopted and entered into force in June 2021. Tools to achieve these goals include Energy Taxation and Energy Efficiency Directives, Renewable Energy Directive, Alternative Fuels Infrastructure Regulation, Fuel EU Maritime Initiative, Emission Trading for road and buildings, EU Emissions Trading System – for power, industry, maritime & aviation, and Carbon Border Adjustment Mechanism.

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