Review of the EU ETS: 'Fit for 55' package

As part of the 'Fit for 55' package, the European Commission presented a legislative proposal to review the EU Emissions Trading System (ETS). The aim of the review is to align the EU ETS Directive with the EU targets set out in the European Climate Law. To this end, the amount of emission allowances would be reduced, fewer allowances would be allocated for free, and the ETS would be extended to maritime transport. A separate new emissions trading system would be established for fuel distribution for road transport and buildings. In the European Parliament, the proposal was referred to the Committee on Environment, Public Health and Food Safety (ENVI), with Peter Liese (EPP, Germany) as rapporteur. The Parliament and the Council adopted their respective positions in June 2022 and reached a provisional trilogue agreement in December 2022. The file was subsequently split into two parts, with the monitoring, reporting and verification of maritime GHG emissions treated separately. The legal acts were published in the Official Journal on 16 May 2023 and enter into force on 5 June 2023. Fifth edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.