The European Commission will later today, Wednesday, March 4, propose a new law to “enshrine in legislation” the EU’s political commitment to climate neutrality by 2050.

The European Climate Law sets the 2050 target and the “direction of travel for all EU policy”.

The commission says that the law would give “predictability” for public authorities, businesses and citizens.

Ursula von der Leyen, the President of the European Commission, said: “We are acting today to make the EU the world’s first climate neutral continent by 2050. The law is the legal translation of our political commitment, and sets us irreversibly on the path to a more sustainable future.

“It offers predictability for European industry and investors…it gives direction to our Green Growth Strategy and guarantees that the transition will be gradual and fair,” von der Leyen added.

The law proposes a “binding target” of net zero greenhouse gas (GHG) emissions by 2050. Under the law, the EU institutions and member states are collectively bound to take necessary measures at the EU and national level to meet the target.

Under the law, progress will be reviewed every five years, in line with the “global stocktake” exercise under the Paris Agreement.

Some of the main tenants of the law include:

Climate Pact

In a related announcement, the public consultation on the European Climate Pact has been opened today.

It will “give citizens and stakeholders a voice and role in designing new climate actions; sharing information; launching grassroots activities; and showcasing solutions that others can follow”.

The consultation will be open for 12 weeks. The Climate Pact will be formally launched before the United Nations Climate Change Conference in November this year.

To learn more about the consultation, click here.