As part of the European Green Deal, with the European Climate Law, the EU has set itself a binding target of achieving climate neutrality by 2050. This requires current greenhouse gas emission levels to drop substantially in the next decades. As an intermediate step towards climate neutrality, the EU has raised its 2030 climate ambition, committing to cutting emissions by at least 55% by 2030.
As part of the measures to reach this objective, Parliament already agreed to increase ambition for emissions reduction in the international aviation sector to achieve EU and global climate goals and adopted its position on the effort sharing regulation which sets binding annual greenhouse gas (GHG) emission reductions for EU member states and currently regulates roughly 60 % of EU emissions. Parliament supported also a revised CO2 emissions standards for new passenger cars and light commercial vehicles.
During June II plenary session MEPs adopted their position on the revision of the EU Emissions Trading System. To incentivise industries to further reduce their emissions and invest in low-carbon technologies, the Emissions Trading System should be reformed and its scope enlarged.