Fit for 55 Package: EU:
The European Commission unveiled its ‘Fit for 55’ package of revised climate and energy laws on 14 July – aiming to align key EU policies with the new 55-percent net-emissions reduction by 2030.
Key features:
- Cars with internal combustion engines will disappear from European showrooms by 2035.
- Steel producers and cement makers will pay for every ton of carbon dioxide their factories emit.
- Cargo ships may not be able to dock in ports like Rotterdam, Netherlands, or Hamburg, Germany, unless they run on cleaner fuels. Commercial airliners will be required to fill up with synthetic fuel produced with green energy.
- The European Union’s plan to cut its greenhouse gas emissions by more than half by the end of the decade will touch almost every industry in the trade bloc, with profound consequences for jobs and the bloc’s economy.
