Climate Law and 2030 Target

The most important piece of the European Green Deal, the European Climate Law,  entered into force on March 24 of this year. This law established a framework for the “irreversible and gradual reduction of greenhouse gas emissions.” This regulation binds the member states to the objective of climate neutrality in the European Union by 2050. The law follows the long-term temperature goals laid out in the Paris Agreement while also considering economic efficiency, fairness between member states, the competitiveness of the EU’s economy, international developments like the coronavirus pandemic, and the most recent scientific evidence.

To ensure Europe reaches net-zero emissions by 2050, the Law proposes the 2030 Climate Target Plan. The European Commission is proposing to cut emissions by 55 percent compared to 1990 levels by 2030, up from the current target of 40 percent. The plan is estimated to save €110 billion in European healthcare costs. It is predicted to reduce air pollution by 60 percent by implementing clean public transport and the installation of more than 1 million electric charging stations across the EU. The Commission also expects to save more than €100 billion by 2030 by reducing imports. Every five years, the EC will assess the progress made by Member States towards the 2030 target.