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Provisional agreements in EU on emissions trading, carbon border adjustments, and climate funding

The EU continues with the rapid revision of existing, and introduction of new, laws to help achieve its goal of reducing greenhouse-gas emissions by at least 55%, compared to 1990 levels, by 2030.

The “Fit for 55” package, which is embedded within the European Green Deal and encompasses 14 legislative proposals designed to align current EU laws with the EU’s climate ambitions, was presented by the European Commission (EC) in July 2021 for further discussion and agreement with the European Parliament and the Council of the European Union. Before the proposals can be adopted and signed into law, the Parliament and EU Council must formally agree to the legislative text.

Source KPMG

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