EU enacts “2050 Climate Neutrality” law

Here’s the intro from this piece from “ESG Today”:

The European Council on Monday announced the adoption of the European climate law, setting into legislation the EU goal to reach climate neutrality by 2050. The climate law is a centerpiece of the European Green Deal, the EU strategy to transform the region into a modern, resource-efficient and competitive economy, through a package of measures ranging from ambitiously cutting greenhouse gas emissions, to investing in cutting-edge research and innovation, to preserving Europe’s natural environment.

In addition to the 2050 target, the new legislation also sets a binding EU climate goal to reduce net greenhouse gas emissions (GHG) by at least 55% by 2030 compared to 1990. The 2030 target was initially proposed in September 2020 by European Commission President Ursula von der Leyen, raising the EU ambition from its prior 40% by 2030 goal, with the new level putting the region on track for 2050 climate neutrality.