Legal study on EU legislation for corporate fleet electrification
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<subfield code="a">In the European Green Deal, the Commission clearly announced its intention to fully decarbonise the EU's economy and society by 2050 in response to the existential threat of climate change. Reaching the climate neutral objective requires reducing GHG emissions progressively. As part of the European Green Deal, the Commission published the proposal for the European Climate Law setting the goal of making Europe's economy and society climate-neutral by 2050 and proposing a 55% emission reduction target by 2030 compared to 1990 levels. The exact level of ambition is still to be determined, with the European Parliament asking for a 60% GHG emissions reduction by 2030. While the Council has agreed with the 55% GHG emission reduction by 2030, it invited the Commission to assess the environmental, economic and social impacts at member state level. The Council also supported that 30% of the total expenditure from the EU's budget for 2021-2027 and Next Generation EU to target climate-related projects. The adoption of the Climate Law is expected to be imminent and will be instrumental, together with the financial instruments linked to it, to stimulate investment on GHG emission reduction measures</subfield>
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