EU Enacts First Legislation on Carbon Neutrality Target... European Climate Law Approved (Comprehensive)

55% Reduction by 2030 Compared to 1990... Carbon Neutrality by 2050

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] The European Union (EU) member states have adopted the European Climate Law, which sets the goal of achieving ‘carbon neutrality’ within the EU by 2050. As the first case where Europe has given legal binding force to carbon emission reductions, it is expected to serve as a milestone for global efforts to address climate change.

According to CNN on the 28th (local time), the EU member states officially approved the European Climate Law at the European Parliament under the EU on the same day. This law will come into effect after the official signatures of the European Parliament and EU member states are obtained and it is published in the official journal.

However, Bulgaria abstained, stating that its position was not sufficiently reflected.

The European Climate Law includes the goal of reducing the EU’s net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels and achieving carbon neutrality by 2050. This is an upward revision from the previous plan, which set the reduction target at 40% by 2030.

Carbon neutrality means offsetting carbon emissions that cause global warming through carbon reduction and absorption activities such as renewable energy generation, making the actual net total emissions ‘0’.

The law sets a carbon emission cap for the entire EU region and requires each country to prepare its own carbon emission reduction plan. In addition, companies and corporations operating within the EU will also be legally bound to comply with these plans.

According to the European Climate Law, the European Scientific Advisory Board on Climate Change will also be established. This body will provide independent and scientific recommendations on the EU’s measures and goals in accordance with this law.

The Portuguese Ministry of Environment, currently holding the rotating presidency of the EU, issued a statement on the day saying, "We welcome the completion of the final stage of legislating the goal of achieving carbon neutrality by 2050."

Earlier, the European Commission, the EU’s executive body, had set the goal of making the EU the ‘first climate-neutral continent’ by 2050. To this end, the European Commission proposed the ‘European Green Deal,’ a policy plan related to climate change. Through consultations with EU member states under the European Green Deal, the European Climate Law was born.

Until now, there has been criticism that carbon emission reduction plans of countries worldwide have remained declarative agreements without legal binding force. Before the approval of the European Climate Law, only five countries?New Zealand, the United Kingdom, France, Luxembourg, and Hungary?had enacted their own laws to legally bind compliance with carbon emission reduction targets.

The European Commission is also expected to propose policies related to sectors such as industry, energy, transportation, and housing. Furthermore, discussions will soon begin to present interim carbon reduction targets up to 2040.

This content was produced with the assistance of AI translation services.