Since Commission President Ursula von der Leyen took office, the EU has above all set itself new climate targets. The “man on the moon” moment that von der Leyen proclaimed in December 2019 when she presented her “Green Deal” has so far been nothing more than a first sketch. The missile hasn't even lifted off yet. That should change this Wednesday. Then the European Commission will present its “Fit for 55” climate package. With this, she wants to answer how the European Union can reduce CO2 emissions by 55 percent by 2030 compared to 1990, and put them on the right path to be climate neutral by 2050. The package consists of more than a dozen proposals on a wide variety of policy areas. The FAZ reported on various "leaks". Reason enough to take a comprehensive look beforehandwhat is coming and what is known - a training plan for the “Fit for 55” package, so to speak.

Hendrik Kafsack

Business correspondent in Brussels.

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What is the EU doing so far against climate change?

So far, the EU has primarily pursued three parallel 2030 goals: reducing emissions by 40 percent, increasing the share of renewable energy in consumption to 32 percent and increasing energy efficiency by 32.5 percent. To reduce emissions, the EU relies on emissions trading. This applies to energy producers, industry and intra-European air traffic and covers two fifths of emissions. By 2030, emissions in the affected sectors must fall by 43 percent compared to 2005. Why 2005? Because there is simply no solid database for 1990. The instrument has proven itself. The price for CO2 rights is now well over 50 euros per ton, thus creating an incentive to reduce emissions. There are national savings targets for the remaining three sectors, transport, buildings and agriculture.At EU level, emissions must fall by an average of 30 percent - again compared to 2005. A savings target of 38 percent applies to Germany. In addition, there are many detailed specifications, such as CO2 savings targets for cars.

What will happen to emissions trading?

The emissions trading approach remains the basis of climate policy. The emissions are capped. Then an appropriate number of CO2 rights will be auctioned or allocated to the companies free of charge. They can then decide for themselves whether they want to reduce emissions, possibly even sell rights, or buy rights from other companies. It is still unclear how much the total amount will decrease by 2030. Climate protectors are calling for cuts of up to 75 percent compared to 2005. It is more likely that it will be around 60 percent. Ultimately, it also depends on how much the number of rights falls year on year. So far, the so-called reduction factor has been 2.2 percent. The Commission wants to strengthen the market stability reserve. This is to prevent the market from being flooded with rights that were not needed for whatever reason,and thus the price comes under pressure. In the future, more such rights are to be removed from the market and permanently deleted. In addition, emissions from ships are to be included.

Will emissions trading be extended to transport and buildings?

The Commission announced this last year.

In fact, it is not about an expansion.

Transport and buildings should have their own emissions trading system.

According to the German model, it should start “upstream”, ie with the fuels gasoline, diesel, heating oil or natural gas.

Unlike in Germany, where fixed prices initially apply and emission rights can only be freely traded from 2027, this should be the case at EU level immediately.

The new emissions trading for buildings and traffic is not expected to start until 2026.

So that could be reconciled with one another.