10 benchmarks to make Europe’s revamp of climate and energy laws a success

In July 2021, the European Commission is expected to present its major Fit for 55 package aimed at achieving the new EU climate target of at least 55 percent greenhouse gas emission reductions by 2030. A new report by think tank Agora Energiewende identifies 10 benchmarks for the July package to be truly “Fit for 55”.

Brussels, 4 May 2021. The July package will include at least nine pieces of legislation, including a revision of the EU ETS Directive, the Climate Action Regulation, the LULUCF Regulation, the Renewable Energy Directive, the Energy Efficiency Directive, the Energy Taxation Directive, CO2 Standards for Cars and Vans and the Alternative Fuels Infrastructure Directive. The legislative package is also likely to include the introduction of new policy instruments, including a separate Emissions Trading System for the buildings and transport sectors, as well as a carbon border adjustment mechanism. A second set of proposals will follow in Q4 2021, including initiatives on energy efficiency in buildings, on gas and on methane emissions.

Environmental integrity, social and distributional justice as well as strong regulatory standards in support of emissions trading should form the three guiding principles in delivering the EU’s new climate target, according to a new report by think tank Agora Energiewende.

The “10 Benchmarks for a Successful July Fit-for-55 Package” study examines the key proposals needed to enhance carbon pricing while ensuring fairness and environmental integrity. It also describes the key sectoral policies in power, buildings, industry, transport, agriculture, forestry and land-use to deliver the targets.

“Our study addresses all elements of the Fit-for-55 package to be presented in July by the European Commission, highlighting where we stand today, where we need to be in 2030, and what needs to be included in the package to get us to -55 percent in 2030. We aim to structure the debate ahead of the 25 May meeting of EU leaders when the July package is on the agenda”, says Matthias Buck, Director European Energy Policy at Agora Energiewende.

“Enhanced carbon pricing is a fundamental component of making good on the EU’s climate commitment. But the July Package will also need to significantly strengthen EU-level sectoral policies across the board and add some new tools to the work shed”, Buck adds.

Published in English, the 21-page publication “10 Benchmarks for a Successful July Fit-for-55 Package” is available for free download at www.agora-energiewende.org.

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