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EN EN EUROPEAN COMMISSION Brussels, COM(2021) 550 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS 'Fit for 55': delivering the EU's 2030 Climate Target on the way to climate neutrality 1 1. 'FIT FOR 55': DELIVERING THE EU'S 2030 CLIMATE TARGET ON THE WAY TO CLIMATE NEUTRALITY We are at a pivotal moment in the world s response to the climate and biodiversity emergencies and we are the last generation that can still act in time. This decade is a make-or-break moment for delivering on our commitments under the Paris Agreement, in the interest of the health, wellbeing and prosperity of all. The EU has led by example in setting ambitious targets for reducing net emissions by at least 55% by 2030 compared to 1990 and for being the first climate neutral continent by 2050.
build on and complement existing solidarity mechanisms. 3. The Social Climate Fund will provide €72.2 billion in current prices for the period 20252032 in the EU budget from - the new Emissions Trading System. It will enable Member States to support vulnerable low and middle-income households, transport users, and microenterprises affected by -
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