Climate neutrality by 2050 is the main objective of the European Green Agreement. [10] For the European Union to achieve its climate neutrality target, one of the objectives is to decarbonise its energy system by aiming to achieve “net zero greenhouse gas emissions” by 2050. [11] Your energy directive needs to be reviewed and adapted in case of problems. Many others in force and the current rules are also neglected and reviewed. [11] In 2023, Member States will update their national climate and energy plans to meet the EU`s 2030 climate target. [12] One of the most important principles is that Boris Johnson`s government has made it clear that after Brexit Britain will deviate from EU environmental standards. The post-Brexit Environmental Act, the Agricultural Act and the Fisheries Act, which now passes through the British Parliament, contain various loopholes that environmental activists say would reduce the environmental protection in the UK that current EU legislation guarantees. The most important player will be China, the world`s largest emitter of greenhouse gases and the second largest economy. In Paris, a pact between the United States and China was at the heart of the agreement.

This time, the EU must bring China alone around the table. As part of the agreement, EU heads of state and government also agreed to update the EU`s 2030 emissions reduction target by the end of 2020. This is an important commitment, as the increase in the current target sends a clear message that the path to EU decarbonisation is moving decisively towards climate neutrality by 2050. And this is important to give all market players a clear signal about the speed of the green transition within the EU, which will enable them to make their investment decisions today. Others fear that CO2 financiers are playing the system game, meaning that EU cash does not trigger real green private sector investment. And don`t forget that last month, EU governments failed to agree on a new seven-year budget, with four net “economy” contributors to the top of the cost of EU spending cuts. The 503 billion euros are not even in the bank. And beneath the surface, the tensions over Europe`s green ambitions are not hard to find.

At least eight countries, including Spain, Sweden and Latvia, want the EU to strengthen its 2030 emissions reduction target. Poland and Hungary feel that this is too much. Divisions will come even when difficult decisions have to be made: from the closure of coal mines, from the demand for an increase in the share of farmers to stricter emission standards for the automotive industry. In order to encourage investment in environmentally friendly activities and to prevent companies from falsely claiming that their products are environmentally friendly – a practice known as greenwashing – Parliament adopted new legislation on sustainable investment on 18 June. In November, MEPs also called for a transition from an unsustainable economic system to a sustainable economic system, which is essential to the development of the EU`s long-term strategic autonomy and to strengthening the EU`s resilience.