Adopting the Paris Agreement in 2015 marked a critical turning point toward a zero-carbon future, uniting the world in a global effort to tackle climate change. During the next Environment Council meeting on 13 October you will have the opportunity to decide on the Council’s position on two of the three pillars of the EU’s climate policy; the Regulations on Effort Sharing (ESR) and Land Use, Land Use Change and Forestry (LULUCF).
In July 2016, the European Commission published its legislative proposal for emission reductions in the sectors transport, agriculture, buildings, small industry and waste for 2021-2030, the so called Effort Sharing Regulation (ESR).
If the Governance legislation is done right, the framework can significantly contribute to implementing the EU's fair share to achieve the long term objectives of the Paris Agreement. It can also help unlocking investor confidence and reduce transition costs while reducing the risks of stranded assets across the European economy.