The new governance system will help to ensure that the EU and the Member States achieve their 2030 goals on reduction of greenhouse gas emissions, renewables and energy efficiency.
Under the regulation, each Member State will prepare a national energy and climate plan for the period 2021-2030, covering all five dimensions of the Energy Union. The EU and Member States will also prepare long-term strategies, covering a period of at least 30 years, from 2020 onwards.
The regulation will support the low-carbon transition and the modernisation of the economy and industry across Europe, providing long-term certainty and predictability for investors, as well as ensure that the EU and Member States work together on further enhancing climate ambition, in line with the Paris Agreement on climate change.
Today’s agreement also updates the existing EU climate monitoring mechanism so that it will better comply with the Paris Agreement’s transparency requirements, while also reducing administrative burden for Member States, the Commission and other stakeholders.
Today’s deal, which must now be formally approved by the European Parliament and Council, means that four of the eight legislative proposals in the 2016 Clean Energy for All Europeans package have now been agreed, following yesterday’s agreement on energy efficiency and other recent agreements on the revised Renewable Energy Directive and the Energy Performance in Buildings Directive. These four pieces of legislation complement the revision of the EU Emissions Trading System, the Effort Sharing Regulation and the Land Use, Land Use Change and Forestry Regulation, which were all adopted earlier this year.