The EP adopted a decree defining the new target values for the capture of carbon dioxide

By: STA Date: 2023. 03. 15. 13:30

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The European Parliament adopted the new regulation, which introduces new target values, among other things, by 2030, it envisages a 15 percent higher rate of carbon dioxide absorption than the committed rate for the long-term sequestration of the gas and its removal from the atmosphere, the EU parliament informed on Tuesday.

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At the plenary session in Strasbourg, the European Parliament adopted the revision of the regulation on greenhouse gas emissions and absorption related to land use, land use change and forestry (LULUCF regulation) with 479 votes, 97 against and 43 abstentions. The revised provisions envisage increasing the rate of natural carbon dioxide absorption with the aim of making the EU the first climate-neutral continent by 2050 and improving its biodiversity, the European Parliament’s announcement highlighted.

This is what the regulation is about

Compared to the amount originally foreseen in the decree, a net of 310 million tons of CO2-equivalent greenhouse gases (GHG) must be absorbed by 2030 in connection with land use, land use change and forestry, which means an increase of 15 percent. In this way, instead of 55 percent compared to the 1990 level, an emission reduction of around 57 percent can be achieved at the EU level by 2030, they wrote. According to the information, member countries can trade absorption credits and, under the joint commitment regulation, can use annual excess emission allowances to achieve LULUCF targets.

The current rules will remain in force until 2025. Even the council must formally approve the revised ordinance. It will enter into force twenty days after its announcement.

MTI