The European Parliament announced today the adoption of a revised Effort Sharing Regulation, which includes the first-ever requirement for all EU member states to reduce greenhouse gas emissions by 2030, as well as raising the EU’s overall 2030 emissions reduction target to 40% compared to 2005 levels, up from 30% previously.
The first Effort Sharing Regulation was adopted in 2018, setting greenhouse gas emissions targets for member states to meet the EU’s 2014 aim of reducing economy-wide emissions by 40% by 2030 compared to 1990 levels. In addition, the law included 2030 targets ranging from 0% to 40% reductions from 2005, setting more ambitious goals for higher affluent member states.
The amendments to the Effort Sharing Regulation are part of the European Commission’s “Fit for 55” agenda, which aims to reduce greenhouse gas (GHG) emissions by 55% by 2030 compared to 1990 levels. For the first time, the new law would compel all member countries to reduce emissions by 2030 compared to 2005, with objectives ranging from 10% to 50%, with goals based on GDP per capita and cost-effectiveness.
The law also ensures that member countries stay within annual GHG emissions allotment. In addition, it limits the emissions that member countries can conserve, borrow from future years, or trade with other countries.
