EU lays out "Fit for 55" goals to cut carbon emissions

The European Union revealed on June 14 the details of its "Fit for 55" package as it lays out plans to cut net carbon emissions by 55% on 2019 levels by 2030 as part of the European Green Deal.

The deal will not only lay out plans for the economic recovery of the EU coming out of the coronavirus pandemic in the short term but also addressing long-term climate threats.

Read more: EU to enshrine net-zero goals

The bloc previously laid out plans to become completely carbon neutral by 2050. Styling itself as the world's first "carbon neutral" continent, the policy will require overhauling climate policies and enabling the EU to deliver on its commitments.

The "Fit for 55" package contains 12 legislative proposals to assist in meeting these goals.

"We already have the goals," Commission President Ursula von der Leyen told reporters in Brussels. "We have a climate law which is underpinned by investment. With this proposal, we have the road map."

Energy production and use accounts for 70% of the bloc total emissions, so accelerating the transition to greener generation is key, she added.

Reducing emissions over the next decade is crucial in achieving the EU's goal of becoming the world's first carbon-neutral continent.

"The fossil fuel economy has reached its limits," von der Leyen said. "We want to leave the next generation a healthy planet as well as good jobs and growth that does not hurt our nature."

She added: "The European Green Deal is our growth strategy that is moving towards a decarbonised economy.

"Europe was the first continent to declare to be climate neutral in 2050, and now we are the very first ones to put a concrete roadmap on the table.

"Europe walks the talk on climate policies through innovation, investment and social compensation."

Among the other things listed at the conference include a ban on the sale of new petrol and diesel engines by 2035, including hybrids, in line with similar bans laid out by the UK and Portugal.

Read more: UK to ban all sales of diesel and petrol vehicles by 2030

After this date, only zero-emissions cars will be permitted.

The EU has revealed plans to offer financial incentives for companies to make the switch. The bloc also hopes to reduce emissions from cars by 55%, down from the original goal of 37.5%.

Also, by 2035, 80% of all air transport should be done using sustainable fuels, with the goal of them emitting 80% less carbon into the atmosphere.

Many sustainable biofuels options are available, the Commission revealed, but are not currently used.

Emissions trading will also see something of an overhaul. The EU's current scheme will see several new sectors added to the list, including aviation and shipping.

Read more: EU drafts aviation fuel tax in greater push for green travel

This will effectively allow many heavily polluting industries to operate using the carbon price, which aims to encourage the switch to more renewable methods.

Brussels says the current scheme — which covers areas such as steel, cement and power — is already set to reduce carbon emissions by around 44% in the respective sectors.

There has also been a proposal to levy taxes on the imports of goods that have a high carbon footprint, but the bloc is aware this may face global resistance.

Steel, iron, aluminium, cement, fertilisers and electricity will be the first sectors to be subject to this plan. The EU may attempt to leverage this into cities reducing their overall emissions.

Taxes on energy are also being proposed to allow for levies to be placed on the most polluting sources, as well as guidelines for member states to protect their forests and plans for reforestation to allow for natural carbon capture.

In all, the "Fit for 55" scheme will be covered by a roughly €72.2 billion fund, which the blocs claims will ensure that people who lose their jobs are supported through the transition.

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