Under European climate law, EU countries must reduce greenhouse gas emissions by at least 55 % by 2030. Their aim is to achieve climate neutrality for the EU by 2050. EU leaders, meeting at the European Council, agreed in December 2019 that the EU should achieve climate neutrality by 2050. Achieving climate neutrality means that by 2050, EU countries will have to significantly reduce their greenhouse gas emissions and find ways to offset the remaining and necessary emissions in order to achieve zero emissions balanceThe European Council underlined in its conclusions that the transition to climate neutrality brings significant opportunities for:

• economic growth
• markets and jobs
• technological development

EU leaders asked the Commission to continue work on European Green Agreement.

They also acknowledged the need to ensure that the green transition is cost-effective, but also socially balanced a fair.