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Az EU éghajlatpolitikai törekvései

Maksi Mátyás

Európai Bizottság Magyarországi Képviselete�

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Éghajlatváltozás: különböző forgatókönyvek

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Éghajlatváltozás és –védelem: globális kitekintés

Az UNFCCC 2015-ös Párizsi Megállapodásának célja: tartsa "a globális átlaghőmérséklet emelkedését jóval 2 °C alatt az iparosodás előtti szinthez képest", és tegyen erőfeszítéseket "annak érdekében, hogy a hőmérséklet-emelkedés legfeljebb 1,5 °C-kal haladja meg az iparosodás előtti szintet".
A mai éghajlattudomány szerint az évszázad végére 1,5 °C-ra kell korlátozni a globális felmelegedést.
"Az éghajlati válság sürgetőbb, mint valaha. Az éghajlati rendszer fordulópontjainak átlépésének veszélye azt jelenti, hogy az 1,5 °C-os felmelegedés túllépése valószínűleg katasztrofális következményekkel jár. Ennek elkerüléséhez a gazdaságok és rendszerek sokkal gyorsabb átalakítására van szükség, mint amit eddig elértünk vagy előrevetítettünk. A globális nettó nulla kibocsátás elérése 2050-ig önmagában nem elegendő: az odavezető út alakja döntő lesz [...] Már ebben az évtizedben gyors és mélyreható kibocsátáscsökkentésre van szükség.“ (OECD, 2023)

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Éghajlatvédelem az EU-ban:�a fenntartható és ellenállóképes Európa építése

Az EU 2030-ig az 1990-es szinthez képest legalább 55%-kal �fogja csökkenteni a nettó üvegházhatásúgáz-kibocsátást.

Az európai klímarendelet rögzíti az EU kötelezettségvállalását, hogy 2050-ig megvalósítja a klímasemlegességet, valamint az üvegházhatásúgáz-kibocsátás csökkentésének 2030-ra kitűzött kötelező mennyiségét.

Az Európai Bizottság felvázolt egy stratégiát az éghajlatváltozáshoz való alkalmazkodásra, amely bemutatja, hogy az EU miként válhat ellenállóbbá az éghajlatváltozással szemben 2050-ig.

Forging a climate-resilient Europe – the new EU strategy on adaptation to climate change, COM/2021/82 final

Eur Climate Law

Proposal 4 March 2020, amended proposal 17 September 2020. OJ 9 July 2021.
a legal objective for the Union to reach climate neutrality by 2050
an ambitious 2030 climate target of at least 55% net GHG emissions reduction as compared to 1990, with clarity on reductions and removals
recognition of the need to enhance the EU's carbon sink through a more ambitious LULUCF regulation
process for a 2040 climate target, taking into account an indicative GHG budget for 2030-2050 to be published by the Commission
a commitment to negative emissions after 2050
the establishment of Eur Scientific Advisory Board on Climate Change for independent scientific advice
stronger provisions on climate adaptation
strong coherence across Union policies with the climate neutrality objective
a commitment to engage with sectors on sector-specific roadmaps to climate neutrality

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Az „Irány az 55 %” törvénycsomag

Egy összehangolt javaslatcsomag - egyensúly az árazás, célok, szabványok és támogató intézkedések között.
A legfontosabb politikákat érinti - klíma, energia, közlekedés, adóztatás.
Célja a transzformáció megvalósítása igazságos, költséghatékony és versenyképes módon.
Megújítja az EU globális klíma elkötelezettségét cselekvéssel és példamutatással.

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Úton a klímasemlegesség fele az EU-ban

Inventory

We are here

Balanced

GHG emissions cf. 1990 (%)

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Javasolt cél 2040-re

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2040 🡪 -90%

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Increase in overall ambition of emissions reductions by 2030 to -62% compared to 2005
Phase-out of ETS free allowances between 2026-2034 �in line with phase-in of the Carbon Border Adjustment Mechanism
Market Stability Reserve strengthened
Innovation Fund increased from 450 to 575 million allowances �Modernisation Fund increased; also available to Greece, Slovenia, Portugal
Inclusion of maritime sector with gradual surrendering till 2026
Update of ETS-aviation until 2027; gradual phase-out of free allocations

Revision of the EU Emissions Trading System �(EU ETS) Directive

EU ETS: cap and trade of emission allowances

For energy intensive industries and power generation

40 % of total CO2 emissions covered

Introduced 2005 – since then, -41 %.

Amendment: by 2030, reach -62%.

Increase annual reduction rate of the cap (linear reduction factor): 4.3 % 2024-27, 4.4% 2028-30

MSR: prolonging beyond 2023 the increased annual intake rate of allowances (24%), threshold of 400 mn allowances

Automatic release of allowances to avoid excessive price fluctuations (Council+EP)

Conditionality on free allowances; possible transitional free allowances to district heating sector

Delete derogation for electricity generation

For CBAM sectors (cement, aluminium, fertilisers, electric energy, hydrogen, iron steel):

end free allowances 2026-34.

In transition time, CBAM applies only to proportion that do not get free allowances (WTO compliance).

Phase-out of free allowances generally: at accelerating speed

Innovation Fund to support decarbonization

EU ETS maritime gradually included: 40 % on emissions from 2024, 70% 2025, 100 % 2026

Consecutive inclusion off big offshore vessels and general cargo and off-shore vessels

Include CH4 and N2O in EU ETS from 2026.

Modernisation Fund

Increasing volume through +2.5 % of cap auctioning

90% to be used for priority investments

Add MS: EL, PT, SI

NatGas projects: in principle no longer be eligible; transitional measures for current beneficiaries to continue time limited financing under certain conditions.

InnovFund

+ 20 mn allowances from scope extension of EU ETS maritime to additional large vessels and inclusion of CH4 and N2O

New: dedicated calls to decarbonise the maritime sector under the Innovation Fund.

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For road transport, buildings, and fuels for industry not covered by ETS
Operational as of 2027 (possibly 2028 if energy prices are exceptionally high)
Emissions reduction of 42% by 2030 compared to 2005
Mechanisms for a smooth start (auctioning of an additional 30% of allowances for year 1) and to mitigate excessive price increases
Social Climate Fund to address the social impacts of ETS2 on vulnerable households, micro-enterprises & transport users
Overall ETS estimated revenue: around €400-560 billion, to be used for climate action

Revision of the EU Emissions Trading System �(EU ETS) Directive: ETS2

EU ETS2 for buildings and road transport and fuels for additional sectors

Will apply to distributors that supply fuels to the buildings, road transport and certain other sectors.

Part of auctioning revenues will go to support vulnerable households and micro-enterprises through the SCF.

Start in 2027.

Linear reduction factor: 5.15 from 2024, and 5.43 from 2028.

Frontloaded auctioning of additional 30% for the first year of the launch, so that it runs smoothly.

Agreement extended the scope to fuels in certain industrial sectors – therefore, SCF size increased too.

Temporary possibility for MS to exempt suppliers from surrendering allowances until end 2030, if subject to a national carbon tax that is equivalent to or higher than the auction price.

Simplified MRV requirements for small fuel suppliers.

If energy prices are exceptionally high, ETS2 start will be delayed until 2028.

If the price of allowances exceeds € 45 over a period of time, additional allowances will be released.

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Social Climate Fund

�€ 86.7 bn over 2026-2032: € 65 bn from the Fund + 25% contributions from Member States

Eligibility of expenditure as of 2026

based on auctioning of 50 mn EU ETS allowances in 2026 (frontloading) & ETS2 as of 2027

Support vulnerable households, transport users & micro-enterprises from impact of ETS2

Support investments in energy efficiency & renovation of buildings, clean heating & cooling

Provide temporary �direct income support

Finance zero- & low-emission mobility �& transport, �incl. public transport

Social Climate Fund

The Council and Parliament agreed to establish a Social Climate Fund to support vulnerable households, micro-enterprises and transport users cope with the price impacts of an emissions trading system for the buildings and road transport and fuels for additional sectors.

The Council and Parliament agreed that the fund would be part of the EU budget and fed by external assigned revenues up to a maximum amount of € 65 billion. This budgetary architecture allows the fund to benefit from a series of guarantees linked to the European budget, without reopening the EU’s multiannual financial framework.

The fund would be established over the period 2026-2032, with eligibility of expenditures from 1 January 2026 based on auctioning of 50 million allowances in 2026 to allow for support at the start of the fund ('frontloading') while the new emission trading system would provide for financing of the Fund as of 2027.

The fund will be used by member states to finance measures and investments to address the impact of carbon pricing on vulnerable citizens and micro-enterprises.

Each member state would submit to the Commission a ‘social climate plan’, containing the measures and investments they intend to undertake to cushion the impacts of the new emission trading system on vulnerable households. Such measures could include increasing the energy efficiency of buildings, the renovation of buildings, the decarbonisation of heating and cooling in buildings and the uptake of zero-emission and low-emission mobility and transport, and measures providing direct income support in a temporary and limited manner.

The Council and Parliament decided to apply a ceiling of 37.5% of the estimated total costs of social climate plans to the possibility for member states to offer temporary direct income support.

The Council and Parliament agreed that the fund would benefit all member states and kept the allocation method proposed by the Commission, while increasing the minimum share from the fund per Member State.

Member states will be contributing nationally from their own budgets to the measures undertaken (co-financing 25%). With regard to the fund's management method the Council and Parliament agreed on direct performance management combined with elements of shared management. Member states will have the possibility of receiving technical assistance up to 2.5% for the implementation of the plan’s measures and 15% of the resources could be used within Cohesion policy programmes.

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Decarbonising Europe’s energy system

Reducing greenhouse gas emissions by at least 55% by 2030 requires �higher shares of energy from renewable sources and greater energy efficiency�> Revised Energy Efficiency Directive increased ambition on energy savings:� reduction of EU wide energy consumption 2030 by at least 11.7% compared to � projections�> Revised Renewable Energy Directive: increased EU renewables target for 2030� to 45 %; faster permitting for renewables
Proposal for a revised Energy Taxation Directive: align minimum tax rates for heating and transport with our climate objectives, while mitigating the social impact and supporting vulnerable citizens

RepowerEU: raise energy efficiency target from 9 % to 13 % [tbc]

Revised Energy Efficiency Directive – OJ Sept 2023

« shall collective ensure a reduction of energy consumption fo at least 11.7 % in 2030 compared to the projections of the 2020 EU reference scenario, so that … Mtoe.

Dec 2018: new 2030 EU headline energy efficiency target of at least 32,5 %, compared to projected energy use in 2030, was included in the Clean Energy for All Europeans package.

National contributions set to reach 29.7 % primary, 29.4 % final energy consumption compared to projections from 2007 EU reference scenario.

Energy efficiency first principle for all relevant policy and major investment decisions

Collectively reach additional 11.7% reduction in energy consumption, compared to 2020 reference scenario

=> Overall EU energy consumption by 2030 up to 992.5 Mtoe primary, 763 Mtoe final energy.

Indicative national contributions (based on energy intensity, GDPpc, energy savings potential, fixed energy consumption reduction)

+ gap filling mechanism

Annual energy savings obligation: more than doubling by 2028: 0.8% 2021-23, 1.3% 2024-25, 1.5% 2026-27, 1.9% 2028-30.

Energy poverty: stronger requirements for EU countries to raise awareness and provide information on energy efficiency

Creation of one-stop shops, technical and financial advice and consumer protection via out-of-court mechanisms for the settlement of disputes.

Improved regulations to identify and remove barriers related to split incentives for energy efficiency renovations

EU countries required to prioritise energy efficiency improvements for vulnerable customers, individuals affected by energy poverty and those living in social housing.

Social Climate Fund for support.

Each EU country is responsible for achieving a share of its energy savings among vulnerable customers and those affected by energy poverty.

Audit obligations, technical competence requirements and investments reporting with energy consumption above threshold

Special rules for heating and cooling and data centres

REDII+

Increased renewables ambition in key sectors (heating and cooling, transport, industry, buildings)

Boosting the deployment of and the investment in renewable energy

Sustainable bioenergy reinforced criteria in line with the EU Biodiversity Strategy

RePowerEU amendment to increase the RES target to 45% in RED II+

Current RES share in EU energy mix, 2019: 19.7 %

Pre-FF55 RES target: 30 %

FF55 proposal: 40 %

RepowerEU: 45 %

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��Revision of the Land Use, Land Use Change and Forestry (LULUCF) Regulation

New targets to increase our natural carbon sink:

2021-2025: EU target for net carbon removals by natural sinks aligned with current LULUCF (‘no-debit’).

2026-2030: -310 million tonnes of CO2 equivalent by 2030.

Land-Use Flexibility for 2026-2030 period, Tier 2 monitoring from 2026, Tier 3 monitoring from 2028 at latest.

Commission Review in 2024 for post-2030 AFOLU pillar inclusion.

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REPowerEU

Energy saving

Diversifying �supply away from Russia

Accelerated investment �in renewables

EU Green Deal – implementation of FF55

Financing

REPowerEU Plan

Aimed at phasing out dependence on Russian fossil fuels well before 2030

⇨ replace 310 bcm of RU gas

Additional investment needs: € 210 bn by 2027

8 March 2022

REPowerEU is a roadmap to reduce the dependence on Russian fossil fuels and fast forward the energy transition.

3 pillars:

1) Energy savings:

cheapest, safest and cleanest way to energy security of supply
Everyone involved – consumers, businesses, public sector
Individual actions can make a big difference�

2) Accelerated investment in renewables to replace fossil gas:

Solar Strategy, Solar Rooftop Initiative and Solar Alliance
Wind
Hydrogen accelerator to increase renewable domestic production and imports
Doubling bio methane production�

3) Diversifying supply away from Russia

Without modifying the ambition of achieving at least -55 % net GHG emissions by 2030 and climate neutrality by 2050.

The EU’s gas consumption will reduce faster, limiting the role of gas as a transitional fuel. �

However, shifting away from Russian fossil fuels also requires investments in gas infrastructure and very limited changes to oil infrastructure alongside large-scale investments in the electricity grid and an EU-wide hydrogen backbone. �

Some existing coal capacities might be used longer than expected, with a role for nuclear power and domestic gas resources.

Needs for joint action:

needs assessments and planning,
purchases and greater coordination.

Solidarity mechanisms – current framework works.

=> ensure that phasing out the dependency on Russian fossil fuels is achievable and affordable

Financing: RFF is at the heart of REPowerEU.

Comprehensive presentation (internal): REPowerEU - Thematic Powerpoint presentations - European Commission - Intranet Wiki (cc.cec)

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EU funding for the transition

Social Climate Fund

€ 86.7 bn 2026-2032 �(€ 65 bn from Fund)

Funding:

RRF: NextGenEU
RepowerEU:
InnovFund:
ModFund:

RepowerEU

Com assessment: overall € 210 bn in addition is needed to phase out RU fossil fuels by 2027.
RRF: Remaining RRF loans € 225 bn, € 20 bn in grants (60 % InnovFund; 40 % frontloaded ETS allowances)
Further for grants: transfer up to 10 % from cohesion policy funds 2014-2020 to support SMEs and vulnerable households; �amend cohesion programmes to include RepwerEU priorities for up to 7.5 % for 2021-27 period.

Innovation Fund

First call for large-scale projects: July 2020
Highly innovative technologies, flagship projects, risk sharing
ETS Directive amendment 2023: �> size 450 -> 530 mn ETS allowances. With 75 €/t CO2, this will be ca. € 40 bn 2020-2030. �> new sectors. Maritime, aviation�> DNSH priniciple as of 2025�> also medium-scale projects�> new financial instruments: competitive bidding

Modernisation Fund

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Greenhouse gas emissions and targets �in Hungary

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Köszönöm a figyelmet!

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Revision of the CO2 Standards for Cars & Vans Regulation

Increased CO2 emissions reduction targets for new cars & vans:

By 2030:

55% for new cars

50% for new vans

compared to 2021 levels

By 2035: 100% for both new cars & vans

(ZLEV) incentive mechanism (2025 to 2029) but with higher benchmarks - 25% for cars & 17% for vans

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Proposal F-Gas Regulation

Tightens and enlarges the scope of the quota system for hydrofluorocarbons (HFCs), extending the schedule from 2030 to 2050!

By 2050, the quota system would reduce annual HFC supply to the EU market by 98% compared to 2015

Introduces additional bans on using F-gases in certain equipment (e.g. heat pumps and AC, electrical switchgear)

Ensures full compliance with the Montreal Protocol in the long run

Improved enforcement & implementation

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Proposal Ozone-Depleting Substances (ODS) Regulation

Existing legislation, as part of the global effort, ensures ozone hole recovery and has prevented additional warming of 2 degrees C by 2070!

Additional emission savings by requiring ODS to be recovered or destroyed from insulation foams when buildings are renovated or demolished, the equivalent of 180 million tonnes CO2 by 2050

Streamlining licensing procedures and reducing burden on industry & authorities

Improved enforcement & monitoring

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Regulation on the Certification of Carbon Removals

First EU-wide voluntary framework to reliably certify high-quality carbon removals

Incentivises carbon removals via technologies or natural carbon sinks

Certified carbon removals create new business opportunities for farmers, foresters & land managers eager to go the extra mile

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Revision of the Regulation on Emissions from Heavy Duty Vehicles (HDVs)

Adopted by Commission in February 2023

Stronger CO2 emissions standards for HDVs from 2030 onwards

Scope extended to cover smaller trucks, city buses, long-distance buses & trailers

New city buses to be zero-emission as of 2030

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Alternative Fuels Infrastructure Regulation (AFIR)

Recharging points for cars & vans: distance-based target on the TEN-T network + national fleet-based targets

Recharging points for heavy duty vehicles (HDVs): distance-based targets along TEN-T network, overnight recharging + urban nodes

Refuelling points for hydrogen for cars & HDVs: mandatory targets along TEN-T network + urban nodes

Refuelling points for LNG for HDV: limited until 2025 to fill remaining gaps

Further objectives for the development of maritime and air transport infrastructure

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Fuel EU Maritime Regulation

GHG intensity of the energy used on-board to be gradually reduced (baseline established with the 2020 EU MRV reporting)

Use of onshore power supply for most polluting ships required at berth

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ReFuel EU Aviation Regulation

All air operators flying from EU airports (some exemptions for very low traffic airlines)

All EU airports (very small airports exempted)

All aviation fuel suppliers distributing fuel at EU airports

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Policy Measures on Taxation and Trade

Revision of the Energy Taxation Directive:�Shifting tax incentives away from fossil fuels and towards clean technologies

New Carbon Border Adjustment Mechanism Regulation (CBAM):�Carbon price on imports of a targeted selection of products to prevent ‘carbon leakage’

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RePower EU

Massive acceleration & expansion of renewable energy

Solar energy: new target of 320 GW by 2025 and European Rooftop Initiative

Heat: Doubling the deployment rate to a total of 10 million units over the next 5 years

Increasing the RED target: from 40% in July proposal to 45% by 2030

Accelerating & improving permit-granting processes

In response to the energy crisis:

New measures were agreed, inter alia a market mechanism to limit excessive gas prices, an oil price cap & temporary emergency measures

Plans to reform the EU's electricity market design

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Energy Performance in Buildings Directive (EPBD)

All New Buildings to be Zero-Emission by 2030

New Public Buildings to be Zero-Emission by 2027

Upgrade of 15% Worst-Performing EU building stock

Roll out Charging Infrastructure in buildings

Energy Performance Certificate compulsory

National Building Renovation Plans integrated into National Energy & Climate Plans

Building ‘Renovation Passport’

Renovation in public & private financing rules

Sunset clause for financial incentives

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Gas Package Legislation

Revision of Regulation on Natural Gas Transmission Networks & Revision of Directive on Common Rules for the Internal Market on Natural Gas

Creates the conditions for a shift from fossil natural gas to renewable and low-carbon gases, in particular biomethane and hydrogen

Establishes a market for hydrogen

Fosters integrated network planning between electricity, gas & hydrogen networks

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Methane Emissions Regulation

First EU legislation on methane emissions reduction in the energy sector

estimated at 19% of human-made methane emissions in the EU (excluding imports)

Highest standard of measurement, reporting & verification of all energy-related methane emissions, via compulsory obligations

Immediate reduction & mitigation of emissions across the EU energy supply chain through mandatory leak detection & repair, & ban on venting & routine flaring

Full transparency on emissions related to imported fossil fuels

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2018 Sustainable Finance Action Plan

The Action Plan made extensive use of the Toolbox to leverage the potential of capital markets.

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Taxonomy alignment

Substantial Contribution to at least one environmental objective (climate change mitigation, climate change adaptation, circular economy, water, biodiversity, pollution).
Do No Significant Harm to the other environmental objectives.
Minimum Social Safeguards compliance.

To summarise:

Eligibility tells what the maximum taxonomy-alignment of a business could be.
Alignment tells what the share of environmental sustainability of a corporate is.

An activity undertaken by a corporate is Taxonomy-aligned if it complies with the following three conditions:

!

To assess alignment, corporates must use the Technical Screening Criteria.

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EU Green Bond Standard

July 2021 proposal for a Regulation, part of 2018 Action Plan

Why an EU GBS?

Increasingly important market at risk of greenwashing
Application of EU Taxonomy

Main requirements – voluntary standard:

Taxonomy-alignment: 100% (?)
Transparency: detailed reporting requirements
External review: ensuring compliance
ESMA-Supervision: Reviewers registered with European Securities Markets Authority

Open issues in trilogues include:

100% Taxonomy-alignment or less
Reporting requirements for bonds other than EU GBS ones