On 4 March - following the Green Deal vision that EU leaders signed off last December - the European Commission presented its European Climate Law which sets legally binding targets to reach net zero by 2050. Just few months before the major summit with China and the upcoming COP26 in Glasgow, EU officials believe that such a commitment will send a global signal that EU is serious about its climate leadership claims.
Here are four key takeaways of the new Climate Law:
- As long as EU meets its climate targets, countries can move towards climate-neutrality at different pace if this will not derail the broader aim
- European Commission plans to review 2030 climate target upwards to reach 50-55% emission reductions and set a trajectory that aligns with 2050 targets
- To keep the EU on track, the Commission will review country progress every five years from 2023 onwards, issuing recommendations to member states
- Member states will be required to increase resilience and reduce vulnerability on the effects of climate change by developing and implementing adaptation strategies
The proposed Climate Law is now open for feedback for a period of eight weeks. This feedback will then be summarised and presented to the European Parliament and European Council to inform the legislative debate.