May Week: What is it?

The document details a series of European Commission proposals to meet 'Fit for 55' objectives, including stricter CO2 standards for vehicles, the creation of a Carbon Border Adjustment Mechanism (CBAM), and revisions to the EU Emissions Trading System (EU ETS) and Effort Sharing Regulation (ESR). It also describes the Social Climate Fund (SCF) to mitigate social impacts of emissions trading in buildings and transport, and updated LULUCF targets for carbon removals. Finally, it explains the EU's co-decision legislative process involving the Commission, Parliament, and Council.

• The European Commission proposes new CO2 emission reduction targets for new passenger cars and light commercial vehicles: a 55% reduction for cars and 50% for vans by 1 January 2030, and a 100% reduction for both by 1 January 2035.
• The proposed Carbon Border Adjustment Mechanism (CBAM) is designed to prevent carbon leakage by addressing greenhouse gas emissions embodied in specific goods imported into the Union's customs territory.
• Revisions to the EU Emissions Trading System (EU ETS) aim to reduce sector emissions by 61% by 2030 compared to 2005 levels, which represents an 18% increase over the previous 43% target.
• The proposed amendments to the EU Effort Sharing Regulation (ESR) seek to increase the EU-wide emissions reduction target for effort-sharing sectors from 29% to 40% by 2030, relative to 2005 levels.
• The Social Climate Fund (SCF) is proposed to address the social impact of extending emissions trading to buildings and road transport, providing direct income support for vulnerable households and funding energy efficiency and decarbonisation investments.
• The LULUCF proposal aims for climate neutrality in land use, forestry, and agriculture by 2035, with an increase in carbon removals to be implemented starting from the second phase (2026-2030).

APA

Contributor, C. (2022). May Week: What is it? ClimaTalk. https://climatalk.org/2022/05/31/may-week-what-is-it/

Chicago

Contributor, ClimaTalk. May Week: What is it? ClimaTalk, 2022. https://climatalk.org/2022/05/31/may-week-what-is-it/.

Wikipedia

{{cite report |last1=Contributor |first1=ClimaTalk |title=May Week: What is it? |publisher=ClimaTalk |date=31 May 2022 |url=https://climatalk.org/2022/05/31/may-week-what-is-it/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{contributor2022may, author = {Contributor, ClimaTalk}, title = {{May Week: What is it?}}, institution = {ClimaTalk}, year = {2022}, month = may, url = {https://climatalk.org/2022/05/31/may-week-what-is-it/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }