EU sets itself a huge target with a radical climate plan
The multilateral strategy will propel the bloc far ahead of other major economies with net-zero goals
The EU is set to transform every corner of its economy – from how people heat their home to the cars they drive – as the bloc uses a massive overhaul of rules to position itself as a global leader on climate change.
Every industry would be forced to accelerate its shift away from fossil fuels to cut pollution by at least 55% from 1990 levels by 2030, according to proposals to be unveiled on Wednesday, putting the EU on a path to eliminate greenhouse gas emissions by mid-century. The Fit for 55 package would expand the world’s largest carbon market to include shipping companies, eliminate new combustion-engine cars and slap a levy on imports of steel, cement and aluminium.
It’s the most ambitious multilateral climate strategy ever attempted and would propel the EU far ahead of other major economies with net-zero goals including the US and China. For example, only zero-emission cars will be produced from 2035, and airlines will eventually have to pay for every ton of carbon dioxide they emit. But it’s unlikely the package will be implemented exactly as envisioned: Wednesday’s proposals kick off years of political wrangling with member states over how to turn the measures into law – and there are already signs of discontent...