| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 130, Pages 1-51 |
| Publication Date | 16/05/2023 |
| Content Type | Blog & Commentary, Legislation, News, Policy-making |
Summary:Regulation (EU) 2023/955 - adopted by the co-legislators on 10 May 2023 - establishing a Social Climate Fund and introducing amendments to Regulation (EU) 2021/1060. Further information:The Communication setting out the European Green Deal from December 2019 introduced a new growth strategy for the European Union (EU). It reaffirmed the European Commission's ambition to increase its climate targets and achieve climate neutrality by 2050. These targets were further updated in September 2020 in the Climate Target Plan, which became legally binding with the European Climate Law. The Fit for 55 legislative package was the result of the review carried out by the Commission on the EU's climate and energy legislation in view of the targets adopted in the meantime. The increased climate ambition also means the contribution from all sectors need to be increased. For that purpose, emissions trading for buildings and road transport was proposed as part of the revision of the ETS Directive. In the short-term the increase in price for fossil fuels will have a disproportionate impact on vulnerable households, vulnerable micro-enterprises and vulnerable transport users who spend a larger part of their incomes on energy and transport and who, in certain regions, do not have access to alternative, affordable mobility and transport solutions. This Regulation establishes a Social Climate Fund for the period between 2026 and 2032. It seeks to provide financial support to Member States for the measures and investment included in their Social Climate Plans. These measures and investments should benefit households, micro-enterprises and transport users, which are vulnerable and particularly affected by the inclusion of greenhouse gas (GHG) emissions from buildings and road transport. The draft law was adopted by the European Commission on 14 July 2021, as part of the Fit for 55 legislative package. The plenary of the European Parliament endorsed a negotiating position on 22 June 2022. The Council of the European Union adopted its general approach to the proposal on 29 June. An informal agreement between the co-legislators on a compromise text for this file was reached on 18 December. This was formally endorsed by the Parliament on 18 April 2023 and by the Council on . The Act was signed by the co-legislators on 10 May 2023 and published in the Official Journal on 16 May 2023. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/reg/2023/955/oj |
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| Subject Categories | Employment and Social Affairs, Environment |
| Subject Tags | Atmospheric | Air Pollution, Climate Change |
| Keywords | Greenhouse Gas | GHG Emissions, Social Cohesion |
| International Organisations | European Union [EU] |
