The European Commission wants to require the auto industry to slash the average emissions of new cars by 55% by 2030. A further reduction to 100% by 2035 effectively means that all new cars registered from that year onward must be zero-emission vehicles. The United Kingdom has already made a similar commitment. The new 2030 goal would be a significant leap from the current EU target of cutting emissions from new cars by 37.5%, which was only set in December 2018. The proposed rule changes are part of a much larger package aimed at propelling the European Union towards its goal of cutting greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. Europe wants to be the first continent to be climate neutral in 2050.
The auto industry plays a vital role in Europe’s economy, accounting for 7% of gross domestic product and supporting 14.6 million jobs in the region. But transport is the only sector where greenhouse gas emissions are rising, and road vehicles accounted for 21% of CO2 emissions in 2017. Carmakers have seen the writing on the wall, and many have announced ambitious plans in recent months to increase production of electric vehicles. Investors have rewarded the most ambitious companies by boosting their share prices. It could be years before the EU rules come into force. The plan needs to be read, amended and approved by lawmakers in the EU Parliament and the EU Council, the forum in which the elected leaders of each member state debate such matters.