European Green Deal: EU’s Path to Climate Neutrality by 2050

The European Green Deal is a package of policy initiatives, which aims to set the EU on the path to a green transition, with the ultimate goal of reaching climate neutrality by 2050. 

It supports the transformation of the EU into a fair and prosperous society with a modern and competitive economy. It underlines the need for a holistic and cross-sectoral approach in which all relevant policy areas contribute to the ultimate climate-related goal. The package includes initiatives covering the climate, the environment, energy, transport, industry, agriculture, and sustainable finance – all of which are strongly interlinked. 

The European Green Deal was launched by the Commission in December 2019 and the European Council noted it during its December meeting. The transition to climate neutrality will bring significant opportunities, such as the potential for economic growth, new business models and markets, new jobs, and technological development. 

What initiatives are included in the Green Deal? 

Fit for 55 

The Fit for 55 package aims to translate the climate ambitions of the Green Deal into law. The package is a set of proposals to revise climate-, energy- and transport-related legislation and put in place new legislative initiatives to align EU laws with the EU’s climate goals. The package of proposals aims to provide a coherent and balanced framework for reaching the EU’s climate objectives, which: 

• Ensures a just and socially fair transition 

• Maintains and strengthens innovation and competitiveness of EU industry while ensuring a level playing field vis-à-vis third country economic operators 

• Underpins the EU’s position as leading the way in the global fight against climate change 

European climate law 

The European climate law regulation turns the political ambition of reaching climate neutrality by 2050 into a legal obligation for the EU. 

By adopting it, the EU and its member states committed to cutting net greenhouse gas emissions in the EU by at least 55% by 2030, compared to 1990 levels. This target is legally binding and based on an impact assessment carried out by the Commission. 

The main actions included in the regulation are: 

• Napping out the pace of emission reductions until 2050 to give predictability to businesses, stakeholders and citizens 

• Develop a system to monitor and report on the progress made toward the goal 

• Ensuring a cost-efficient and socially-fair green transition 

Following the provisional agreement reached with the European Parliament in April 2021, the Council approved the agreement in May 2021. The regulation is in force. 

EU strategy on adaptation to climate change 

In June 2021, EU environment ministers approved conclusions endorsing the new EU strategy on adaptation to climate change. The strategy outlines a long-term vision for the EU to become a climate-resilient society that is fully adapted to the unavoidable impacts of climate change by 2050. 

The measures set out in the strategy include:  

• better gathering and sharing of data to improve access to and exchange of knowledge on climate impacts 

• nature-based solutions to help build climate resilience and protect ecosystems 

• integration of adaptation in macro-fiscal policies 

The conclusions give political guidance to the Commission on the implementation of the strategy.