With this Bill, Catalonia announces a plan to reduce its emissions by 40% by 2030, based on 2005 levels. The new law aims to reduce emissions by 65% by 2040 and 100% by 2050. The Bill will tax businesses about $10 for each ton of CO2 emitted – a number that will be raised to about $30 in 2025. Large ships will be taxed about $1,000 for each ton of nitrogen oxide emitted, and the bill will also reinforce the existing carbon tax on polluting cars. The money raised through those measures will then be invested in projects fighting climate change (promotion of renewable energies and energy efficient housing, etc.)