How to get Fit for 55 in shape for the climate emergency

Carbon Market Watch contends that the EU's 'Fit for 55' package lacks the urgency required for the climate crisis. The authors argue for increasing the 2030 emissions reduction target to 65% and advancing the carbon neutrality goal to 2040. While welcoming the inclusion of shipping in the Emissions Trading System (ETS) and the proposed Carbon Border Adjustment Mechanism (CBAM), the document criticises the continued use of free allowances and the lack of exemptions for low-income countries within the CBAM framework.

• The current 'Fit for 55' targets are deemed insufficient; the authors argue that the EU's 2030 reduction targets should be increased to 65% and the goal for carbon neutrality should be moved forward from 2050 to 2040.
• While the proposal to maintain the Market Stability Reserve (MSR) intake rate at 24% is seen as promising, Carbon Market Watch argues it should be raised to 36% to compensate for the addition of maritime and aviation emissions.
• The document criticises the overlap between the Carbon Border Adjustment Mechanism (CBAM) and free allowances from 2026 to 2035, stating that CBAM should replace free allowances immediately to avoid subsidising polluters.
• The proposed CBAM is criticised for not exempting low-income countries, which could disproportionately harm their development, and for earmarking revenues for the Next Generation EU Facility rather than international climate action.
• The authors welcome the inclusion of shipping in the ETS, noting that there will be no free allowances, despite the slow phase-in period ending in 2026 and the coverage of only 50% of voyages.

APA

Ruggiero, A., & Marshall, A. (2021). How to get Fit for 55 in shape for the climate emergency. Carbon Market Watch. https://carbonmarketwatch.org/2021/10/07/how-to-get-fit-for-55-in-shape-for-the-climate-emergency/

Chicago

Ruggiero, Agnese, and Andrew Marshall. How to get Fit for 55 in shape for the climate emergency. Carbon Market Watch, 2021. https://carbonmarketwatch.org/2021/10/07/how-to-get-fit-for-55-in-shape-for-the-climate-emergency/.

Wikipedia

{{cite press release |last1=Ruggiero |first1=Agnese |last2=Marshall |first2=Andrew |title=How to get Fit for 55 in shape for the climate emergency |publisher=Carbon Market Watch |date=7 October 2021 |url=https://carbonmarketwatch.org/2021/10/07/how-to-get-fit-for-55-in-shape-for-the-climate-emergency/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{ruggiero2021how, author = {Ruggiero, Agnese and Marshall, Andrew}, title = {{How to get Fit for 55 in shape for the climate emergency}}, publisher = {Carbon Market Watch}, year = {2021}, month = oct, url = {https://carbonmarketwatch.org/2021/10/07/how-to-get-fit-for-55-in-shape-for-the-climate-emergency/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }