By Eurasia Network – July 15, 2021

The European Commission (EC) has released an action plan for the green restructuring of the entire European economy. 

The strategy provides for new approaches to regulation in the EU of energy, all types of transport, construction sector, industry, infrastructure. 

The EU plans a significant expansion of the carbon trading system, including on aviation and water transport, environmental tariffs on imports, the concept of carbon sequestration through massive forest planting and the creation of financial instruments worth more than 100 billion EUR to reduce the social damage from these measures.

The plan includes the following measures:

  • A ban from 2035 on the production of vehicles on traditional fuels in the EU ;
  • Introduction of “climatic” customs duties on imports of steel, aluminum and cement into the European Union ;
  • Introduction of progressive climate tariffs for air and sea transport ;
  • Expansion of the carbon trading system for aircraft and ships.

According to the head of the EU Commission, the German Ursula von der Leyen, these measures should reduce greenhouse gas emissions in the EU by at least 55% by 2030 compared to 1990 levels.

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The EU’s long-term budget for the next seven years will provide support to the green transition.

This is the most ambitious multilateral climate protection strategy in human history. According to the authors of the initiative, by 2050 Europe should become the world’s first climate-neutral part of the world. Among other things, the EU will be engaged in the transformation of all spheres of its economy, from heating houses to transport, the agency notes.

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