Last week, the European Council approved two further pieces of legislation belonging to the EU’s "Fit for 55" package. In their meeting last week, the Environment Council adopted the revised Renewable Energy Directive (RED III) and a regulation on the ReFuelEU Aviation initiative, both of had already been formally approved by the European Parliament in September. With the final text now having been accepted by both co-legislators, the Directive will now be published in the Official Journal of the EU and enter into force some 20 days later.
With the new legislation, the EU will have legally binding climate targets for all major economic sectors. The Fit for 55 package is meant to ensure that the EU’s net greenhouse gas (GHG) emissions are reduced by at least 55 per cent by 2030. One important component of the package, the proposed directive on energy taxation, has not yet been adopted....
