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European Commission Releases a Number of 'Green Taxation' Measures
The European Commission has published a number of green taxation measures as part of a package called the ‘Fit for 55’ Package. This Fit for 55 Package intends to set the European Union on the path to a greenhouse gas emissions reduction of 55% by 2030 compared to 1990 levels and, ultimately, climate neutrality by 2050. It is a key component of the European Green Deal of 11 December 2019.The Commission plans to introduce new incentives to encourage increased green behaviour in areas such as renewable energies. It also seeks to discourage behaviour that uses scarce resources, through increased carbon pricing and punitive costs for climate-unfriendly activities.
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