The Fit-for-55 package includes the following initiatives:
-Revision of the EU Emissions Trading System (ETS), including maritime, aviation and CORSIA as well as a proposal for ETS as own resource
-Carbon Border Adjustment Mechanism (CBAM) and a proposal for CBAM as own resource
-Effort Sharing Regulation (ESR)
-Revision of the Energy Tax Directive
-Amendment to the Renewable Energy Directive to implement the ambition of the new 2030 climate target (RED)
-Amendment of the Energy Efficiency Directive to implement the ambition of the new 2030 climate target (EED)
-Revision of the Regulation on the inclusion of greenhouse gas emissions and removals from land use, land use change and forestry (LULUCF)
-Revision of the Directive on deployment of alternative fuels infrastructure
-Revision of the Regulation setting CO₂ emission performance standards for new passenger cars and for new light commercial vehicles
According to the CAT, instead of the current emissions reduction of 43% between 2005 and 2030, it should result in emissions reductions of 61% in the same period. The emissions reduction goal in the non-EU ETS sectors has also been increased from 30% to 40% below 2005, with binding national emissions reduction targets between 10% and 50%.
The “Fit for 55” package also includes proposals for a higher share of renewables and increased energy efficiency. The target for the share of renewables in energy consumption has been increased from 32% to 40%, with an additional indicative share of 49% of renewables in the buildings sector. According to the proposal, at least 50% of hydrogen used in the industry should be generated from renewables.
On the package’s new energy efficiency goals, by 2030, EU member states should reduce their total primary energy consumption to no more than 1,023 Mtoe instead of the previous target’s 1,128 Mtoe. Their final energy consumption should not exceed 787 Mtoe. This was around 59 Mtoe less than in the preceding version of the Directive already amended to reflect Brexit.