EU Climate Law | Climate Neutrality by 2050
On March 4, the European Commission published the first European Climate Law.
As a cornerstone of the European Green Deal, the Proposal for a Regulation for a European Climate Law sets out a binding objective of climate neutrality in the Union by 2050, increasing the goal of emission reductions to 55 % by 2030, in accordance with the Paris Agreements (art.2 and art.7).
The main initiatives promoted by the law are;
- An assessment by the European Commission of the collective progress made by all member states and an assessment of the consistency of EU climate-neutrality measures every 5 years.
- The promotion of a multilevel exchange between all relevant stakeholders: member states are invited to establish regular dialogue, involving local authorities, civil society, businesses, and investors.