EU unveils climate law to go net zero by 2050

The EuropeanCommission has unveiled a ‘climate law’ to commit the 27-nation EU to reducingits net greenhouse gas emissions to zero by 2050. The European Climate Law,which still requires the approval of the European Parliament and member states,will be joined by a new 2030 EU target for greenhouse gas emission reductions.According to the proposed regulation, by September 2023 and every five yearsthereafter, the EU will assess the consistency of international measures andnational commitments with the climate-neutrality objective’s trajectory. Ursulavon der Leyen, President of the European Commission, said: “We are acting todayto make the EU the world’s first climate neutral continent by 2050. The ClimateLaw is the legal translation of our political commitment and sets usirreversibly on the path to a more sustainable future. It is the heart of theEuropean Green Deal. “It offers predictability and transparency for Europeanindustry and investors. And it gives direction to our green growth strategy andguarantees that the transition will be gradual and fair.” Frans Timmermans,Executive Vice-President for the European Green Deal added: “The EuropeanClimate Law is also a message to our international partners that this is theyear to raise global ambition together, in the pursuit of our shared ParisAgreement goals. The Climate Law will ensure we stay focused and disciplined,remain on the right track and are accountable for delivery.” (Source: EnergyLive News)