Commission Outlines Ambitious Green Deal, But Can Expect Political Pushback

Earlier today, the European Commission outlined in greater detail its European Green Deal, known strangely as the 'Fit for 55' agenda. One of the most headline-grabbing announcements is that the sale of petrol or diesel cars will be outlawed from 2035 onwards, a plan that member states with significant autos sectors may seek to water-down as the plan progresses.

• Full press release can be found here:https://ec.europa.eu/commission/presscorner/detail...
• With the significant plans to cut back on emissions, the EU has created a special fund intended to support less well off households in dealing with the inevitable increase in fuel and energy costs that will come with the EU's Green Deal. Whether this will prove enough to ward off significant political criticism remains to be seen.
• The EU says the relief fund for poorer households , known as the Social Climate Fund "would be financed by the EU budget, using an amount equivalent to 25% of the expected revenues of emissions trading for building and road transport fuels. It will provide EUR72.2 billion of funding to Member States, for the period 2025-2032, based on a targeted amendment to the multiannual financial framework. With a proposal to draw on matching Member State funding, the Fund would mobilise EUR144.4 billion for a socially fair transition."