The adoption of the European Union Climate law has set an ambitious emission reduction target for 2030 while confirming the climate neutrality objective for 2050. According to the IPCC scenarios, keeping global warming below 1.5°C requires that global anthropogenic net emissions should be zero by around 2050. Secondly, meeting this goal requires the deployment of CDR, which can happen by means of bioenergy with carbon capture and storage (BECCS) and removals in the agriculture, forestry and other land use (AFOLU) sector. The IPCC defines CDR as "anthropogenic activities removing CO2 from the atmosphere and durably storing it in geological, terrestrial, or ocean reservoirs, or in products".
Download — Opinia EKES-u: Role of carbon removal technologies in decarbonising the European industry
EESC believes that there is a need to have a clear and structured view of which funds are targeted to tackle climate change and how they are managed. With an approved budget of over EUR 330 billion in the current programming period, cohesion policy is the largest and most important investment tool in Europe. As 30% of both the Cohesion Fund and the European Regional Development Fund (ERDF) will need to be spent on projects for decarbonising our economy, cohesion policy has a crucial role in tackling climate change. Moreover, funds will also be made available under NGEU, as the green transition is one of the main targets of recovery and resilience after COVID-19.
Download — Opinia EKES-u: Climate Adjustment Fund financed by Cohesion and NGEU
In relation to digital taxation the EESC deems it crucial for both Pillar 1 and Pillar 2 of the OECD to be implemented within the EU as soon as it is feasible, achieving a high degree of consistency with the international agreement that will be negotiated within the OECD/G20 venue. The Committee stresses that properly devised international tax laws on digital businesses are instrumental in preventing tax evasion and tax avoidance practices, as well as in designing a fair, stable and progressive taxation system.
