Graphic shows EU greenhouse gas emissions and cap and trade system.
GN41592EN

ENVIRONMENT

Europe to revamp its green deal

By Duncan Mil

July 14, 2021 - The EU Emissions Trading Scheme (EU ETS) is an effort to reduce greenhouse gases by putting a price on each tonne of carbon emitted by some 12,000 EU businesses and aircraft operators.

The European Commission is to roll out the world’s most ambitious climate change legislation to cut pollution by at least 55% from 1990 levels by 2030.

According to “Fit for 55” proposals, the EU plans to eliminate greenhouse gas emissions by mid-century.

For example, road transport emissions must be cut by 60% to 90% by 2030, with hefty penalties for carmakers who fail to meet targets. All cars must be zero-emission by 2035, and airlines will eventually have to pay for every tonne of carbon dioxide they emit.

There will be more alternative refuelling points for hydrogen trucks, and the number of electric charging points will rise to one million by 2025 and three million by 2030.

All aircraft departing EU airports are to use sustainable aviation fuels (SAFs), from a 2% SAF requirement in 2025, moving to 5% in 2030, 20% in 2035, 32% in 2040, and 63% by 2050.

Fit for 55 plans to boost the use and production of sustainable alternative maritime fuels. Maritime accounts for 11% of EU transport emissions, around 3-4% of total EU CO2 emissions.

The EU’s 27 nations have cut emissions by 24% between 1990 and 2019, primarily driven by limits on pollution imposed by the ETS.

Sources
PUBLISHED: 14/07/2021; STORY: Graphic News
Advertisement