In line with the European Green Deal and the EU's objective to become the first climate neutral economy by 2050, the Commission adopted today revised EU Emission Trading System State aid Guidelines in the context of the system for greenhouse gas emission allowance trading post-2021 (the “ETS Guidelines”). They will enter into force on 1 January 2021 with the start of the new ETS trading period, and replace the previous Guidelines adopted in 2012. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “To sustainably...

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ECB’s Governing Council confirms exceptional circumstances Opinion instrumental in ECB Banking Supervision’s decision to allow banks to exclude central bank exposures from leverage ratio See also ECB Banking Supervision announcement on leverage ratio The Governing Council of the European Central Bank (ECB) has decided that it concurs with ECB Banking supervision that there are ‘exceptional circumstances’ allowing the temporary exclusion of certain central bank exposures from the leverage ratio. The Governing Council said in an opinion: “The situation brought about...

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The European Commission has set out strategic guidance for the implementation of the Recovery and Resilience Facility in its 2021 Annual Sustainable Growth Strategy (ASGS). The Facility is the key recovery instrument at the heart of NextGenerationEU which will help the EU emerge stronger and more resilient from the current crisis. The Facility will provide an unprecedented €672.5 billion of loans and grants in frontloaded financial support for the crucial first years of the recovery. The publication of the ASGS...

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The European Commission presented today its plan to reduce EU greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. This level of ambition for the next decade will put the EU on a balanced pathway to reaching climate neutrality by 2050. The new target is based on a comprehensive Impact Assessment of the social, economic and environmental impacts. The Assessment demonstrates that this course of action is realistic and feasible. This raised ambition also underlines the EU's continued global...

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Binding targets to protect forests, in particular primary forests Robust implementation and enforcement of existing instruments Future trade and investment agreements should contain binding provisions against deforestation MEPs outline how the EU can contribute to tackling worldwide deforestation and call for domestic policies to be revised to protect European forests. In the non-binding resolution adopted on Tuesday with 543 votes to 47 and 109 abstentions, in response to a Commission communication, MEPs call for more support to protect, restore and...

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Brussels, September 16, 2020 | Building the world we want to live in: A Union of vitality in a world of fragility Dear President, Honourable Members, One of the most courageous minds of our times, Andrei Sakharov – a man so admired by this House - always spoke of his unshakeable belief in the hidden strength of the human spirit. In these last six months, Europeans have shown how strong that human spirit really is. We saw it in the care workers who moved into nursing homes...

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