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Fit for 55: Reshaping global climate leadership and transatlantic cooperation


Fit for 55: Reshaping global climate leadership and transatlantic cooperation
EnergySource
by
The Global Energy Center
Facade of the European Parliament Paul Henri-Spaak building in Brussels, Belgium (Guillaume Périgois/Unsplash)
On July 14, 2021, the European Union (EU) took another major step towards climate neutrality by rolling out a massive roadmap that provides a legislative backbone for the European Green Deal. The Fit for 55 package includes climate, energy, land use, transport, and taxation policies aimed at reducing greenhouse gas emissions 55 percent by 2030, compared to 1990 levels. Will the package push global leaders to turn climate goals into action or will complex negotiations between the 27 EU member states and the European Parliament derail the EU’s efforts to lead on the energy transition? In this rapid response piece, Global Energy Center experts analyze the highlights and implications of the Fit for 55 ....

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New EU carbon tax: wrong rate could wreck net-zero goals – but right rate can help world's poor


The European Commission is holding a meeting in June that is, on the face of it, very boring. The EU’s senior bureaucrats will be considering at what level to set a tax on carbon emissions for goods imported into the bloc.
Yet the consequences will be pivotal – both to the future of the EU’s world-leading system for managing corporate carbon emissions, and for how this market develops around the world. It’s therefore an absolutely vital part of the battle for net zero global emissions.
Let’s first understand what has prompted the tax. Within the EU, carbon emissions are governed by a cap-and-trade system: a cap is set on the total amount of carbon emissions that can be emitted, and power providers and other firms each get an allowance for how much they can emit themselves. ....

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