The EU’s flagship climate policy package ‘Fit for 55’, the ambitious plan to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels, took another step forward this week. On 18 April, the European Parliament finally approved several interconnected pieces of legislation that form the backbone of the package. The lawmakers adopted the reform of the EU’s Emissions Trading System (ETS), the Carbon Border Adjustment Mechanism (CBAM) and a new Social Climate Fund (SCF).
