On March 10, 2022, the European Parliament (EP) approved the European Union's (EU) environmental goals for 2030 to accelerate the transition to a climate-neutral, clean, circular, and prosperous economy. The EU will therefore establish a binding framework for monitoring and reporting on the progress of individual Member States towards phasing out fossil fuel subsidies. It will also set a deadline for ending fossil fuel subsidies, in line with the ambition to limit global warming to 1.5 degrees Celsius, and develop a new methodology to identify further subsidies contributing to environmental degradation by 2023.
Source: ČIA News
Prepared by the team of CzechTrade