EU sets bold emissions target for climate neutrality by 2050

The European Commission is urged to establish a bold emissions reduction target for 2040 to achieve climate neutrality by 2050, with a recommended 90% reduction in emissions. This ambitious target necessitates a comprehensive strategy that includes a just transition away from fossil fuels and significant investments in low-carbon technologies. The EU must set clear fossil fuel phase-out targets to prevent long-term dependency on fossil fuels and to encourage global leadership in climate action. Investment in low-carbon industrial technologies is critical, particularly in sectors like steel manufacturing, where new investments must focus on low-carbon solutions by 2030. The Swedish steel industry exemplifies this transition by planning to utilize green hydrogen for its operations. The EU's approach should also include limiting the development of new fossil fuel infrastructure to avoid locking in carbon emissions that could hinder climate goals. A fair transition to climate neutrality requires coordinated efforts across various policy sectors, with a focus on supporting vulnerable populations. The existing Social Climate Fund, while important, is deemed insufficient to address the needs of those most at risk. Clear guidelines from the Commission are necessary to ensure that support measures are effectively targeted and tailored to the unique circumstances of different regions. The European Commission President's ambitious agenda for decarbonization and industrial competitiveness relies on the actions of incoming Commissioners. By setting clear phase-out targets for fossil fuels and enhancing just transition measures, the EU can solidify its commitment to a sustainable and equitable future.