In news- European Green Deal has been endorsed by the European Parliament recently.
Background-
As part of its ‘Fit for 55’ package, the European Commission proposed a dozen climate policies, each with the ambition to curtail greenhouse gases, in line with the goals stated in the European green deal program.
About European Green Deal-
- The deal aims to cut carbon emissions, achieve economic growth not tied to resource use and ensure no one is left behind.
- It was launched in December 2019.
- The idea behind the green deal is to change how energy is produced and consumed in the EU.
- Going by the targets set in the green deal the EU plans to cut greenhouse gas emissions by at least 50% compared to the 1990 levels by 2030 and become climate neutral by 2050.
- The European Green Deal, presented in the communication of 11 December 2019, sets out a detailed vision to make Europe the first climate-neutral continent by 2050
- It intends to safeguard biodiversity, establish a circular economy and eliminate pollution, while boosting the competitiveness of European industry and ensuring a just transition for the regions and workers affected.
Focus areas of the deal-
- It focuses on eight policy areas: biodiversity, sustainable food systems, sustainable agriculture, clean energy, sustainable industry, building and renovating, sustainable mobility, eliminating pollution and climate action.
- The deal represents an unprecedented effort to review more than 50 European laws and redesign public policies.
Goals-
The deal aims to achieve three main goals.
Goal-1:
- It focuses on achieving net-zero emissions by proposing specific strategies that can help curb emissions across all sectors, with a strong focus on energy, which makes up more than 75% of total EU-27’s greenhouses gas.
- The objective is to increase the share of renewable energy in the EU’s energy mix.
Goal-2:
- It plans to decouple growth from resource exploitation.
- Described as a “generation-defining task,” achieving this objective will not only require a boost in technological advancements but also rethinking lifestyles, communities, and societies.
Goal-3:
Third is the need to foster an inclusive green transition and to leave none behind, supported through the Just Transition Mechanism, which will provide between 65€ and 75€ billion over the period of 2021-2027 to alleviate the socio-economic impacts of the transition.
The European Commission has envisaged the need for 1 trillion euros of investments, with half coming from the EU budget and EU Emission Trading Scheme and half from Invest EU.
Fit for 55-
- The revisions and initiatives linked to the European Green Deal climate actions and in particular the climate target plan’s 55 % net reduction target are presented under the Fit for 55 package.
- The “Fit for 55” package includes new policies and regulations.
- It was launched in July 2021.
- European Commission adopted this package of proposals to make the EU’s climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.
- It covers areas including renewables, energy efficiency, building, land use and emissions trading schemes.
It is expected to define new targets for the EU energy mix by 2030 and make the directive legally binding to achieve 32.5% energy savings by 2030.
