New suite of EU climate laws approved by Parliament

Four landmark ‘Fit for 55’ climate laws were approved at the European Parliament today: the Emissions Trading System (ETS), Carbon Border Adjustment Mechanism, Social Climate Fund, and ETS for Aviation. Green MEPs Ciaran Cuffe and Grace O’Sullivan welcomed the result, while emphasising that vulnerable households must receive particular support to move away from fossil fuels, including for measures to improve the energy performance of their homes and to switch to more sustainable mobility modes. They added that this climate package provides an additional incentive for industry to decarbonise, highlighting that industries that successfully do so may benefit from additional EU funding.

Ciarán Cuffe, Green MEP for Dublin, said:

“The Parliament has sent an important message to industry today: decarbonise now and be rewarded, or pay a high price for your emissions. It’s as simple as that: we are putting a price on pollution. We are bringing the aviation and maritime sectors under the Emissions Trading System, and it's certainly not before time for aviation: the industry has been let off the hook of EU climate policy for far too long, and we are just beginning to understand its full climate impact. While we are incentivising industry to decarbonise, we are also saying that vulnerable and low-income households should be protected. I’d like to see even more money going into the Social Climate Fund to provide direct income support for high energy bills and finance more  long-term structural investments like renovations.”

Grace O’Sullivan, MEP for Ireland South, said:

“Up until now, taxpayers have been footing the bill for industry’s emissions in terms of healthcare, environmental cleanups and the very expensive impacts of climate change. These measures make sure that industries pay for their pollution, and makes it more attractive to invest in sustainable activities. This marks a significant step into the era of ‘Green Economics’ where we plan not just for profit and growth, but for human wellbeing and a just transition.”

On Wednesday, the European Parliament will vote on the Deforestation Regulation that aims to ban certain commodities and products with links to deforestation from import into the EU. On Thursday, the Parliament will debate the outcome of the latest IPCC report published on March 20. This report sounds the Panel’s final warning on the impacts of global heating of more than 1.5°C, and sets out a guide for world leaders on how to mitigate the worst impacts of climate change and avoid further heating.