EU to reduce members' GHG emissions by 40% over 2005 levels by 2030

The revised law increases the 2030 GHG reduction target at the European Union (EU) level from 30 per cent to 40 per cent compared to 2005 levels.

For the first time, all EU countries must now reduce GHG emissions with targets ranging between 10 per cent and 50 per cent.

The 2030-targets for each member state are based on GDP per capita and cost-effectiveness. Member states will also have to ensure every year that they do not exceed their annual GHG emission allocation, a press release from EU said.

The law strikes a balance between the need for EU countries to be flexible to achieve their targets while ensuring a just and socially fair transition, and the need to close loopholes so the overall EU reduction target is met.

For this reason, there are limits on how many emissions member states can save from previous years, borrow from future years as well as on how much they can trade allocations with other member states.

The text now also has to be formally endorsed by the European Council.

The Effort Sharing Regulation is part of the ‘Fit for 55 in 2030 package’, which is the EU’s plan to reduce GHG emissions by at least 55 per cent by 2030 compared to 1990 levels in line with the European Climate Law.

Fibre2Fashion News Desk (DS)