In fact, the new law aims to transform political promises that the EU will become climate neutral by 2050 into a binding obligation and to give European citizens and businesses the legal certainty and predictability they need to plan for the transformation.

What is more, MEPs insist that both the EU and all member states individually must become climate-neutral by 2050 and that thereafter the EU shall achieve “negative emissions”.

According to MEPs, the Commission must propose by 31 May 2023, through the ordinary decision-making procedure, a trajectory at EU level on how to reach carbon neutrality by 2050.

The adoption of the report sends a clear message to the Commission and the Council, in light of the upcoming negotiations. We expect all member states to achieve climate neutrality by 2050 at the latest and we need strong interim targets in 2030 and 2040 for the EU to achieve this.

... Parliament rapporteur Jytte Guteland (S&D, Sweden) said.

To remind, the EU’s current emissions reductions target for 2030 is 40% compared to 1990.

The Commission recently proposed to increase this target to “at least 55%” in the amended proposal for an EU climate law.

However, MEPs raised the bar even further, calling for a reduction of 60% in 2030, adding that national targets shall be increased in a cost-efficient and fair way.

Overall, the European Parliament voted to include CO2 emissions from the maritime sector in the EU Emissions Trading System, eyeing a 40% reduction in CO2 by 2030.