As part of the European Green Deal, with the European Climate Law, the EU has set itself a binding target of achieving climate neutrality by 2050. This requires current greenhouse gas emission levels to drop substantially in the next decades. As an intermediate step towards climate neutrality, the EU has raised its 2030 climate ambition, committing to cutting emissions by at least 55% by 2030.

On 14 July the European Commission published its “Fit For 55” package as part of the European Green Pact and the European Climate Act, with which the EU aims to reduce EU carbon emissions by 55% by 2030 and achieve climate change neutrality by 2050

The Fit for 55 package is a set of proposals to revise and update EU legislation and to put in place new initiatives including including a revision of the EU emissions trading system (EU ETS), Carbon Border Adjustment Mechanism, a recast of the Renewable Energy Directive, etc. to ensure that EU policies are in line with the set climate targets.

The chemical industry is one of the European Union’s most competitive and successful industries, embracing a wide field of processing and manufacturing activities, providing modern products and materials to virtually all sectors. The industry is also a valuable part of Europe’s social economy, directly providing 1.1 million jobs and generating a turnover of 543 billion €.

Cefic, the European Chemical Industry Council, position on the ‘Fit for 55’ package wants to ensure that this legislative Package will be a success for EU industry and society at large, recognising it as a key enabler of the transition to a climate neutral Europe while safeguarding the EU’s competitiveness and strengthening Europe’s leading role in tackling climate change.