European Parliament Still Reaches Agreement on Climate Plans

The European Parliament has reached an agreement in full in Brussels on climate plans that should reduce CO2 emissions in the European Union by at least 55 percent by 2030 compared to 1990.

 

Thanks to a compromise between the three major middle parties, the parliament agrees to three key components of the European Commission’s so-called Fit for 55 packages.

Two weeks ago, the vote on the climate plans in Strasbourg was halted in great consternation when Christian Democrats, Social Democrats and Greens accused each other of pushing through their will and risking everything with the help of the far-right. The three have now reached a compromise that prevents further delay.

The parliament eventually approved the phasing out of free CO2 emission rights for companies between 2027 and 2032 and the introduction in 2027 of an import tax on climate-unfriendly manufactured products such as steel and cement. This tax, which should apply to more sectors from 2032, will protect European companies against competition from less climate-friendly rivals from outside the union.

Parliament also agreed on the establishment of a social climate fund to mitigate the consequences of the green transition for citizens. The ultimate goal is for the EU to be climate neutral by 2050.

Now that the EU parliament has determined its position, it can start negotiations with the EU member states and the European Commission for a final agreement. Only then can the measures take effect.