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RICARDO SUPPORTS EUROPEAN COMMISSION'S NEW 'FIT FOR 55' CLIMATE PACKAGE

RICARDO SUPPORTS EUROPEAN COMMISSION'S NEW 'FIT FOR 55' CLIMATE PACKAGE

Thursday, July 15, 2021 

Specialists from UK consulting engineers Ricardo have provided the technical analysis underpinning many of the new and updated policy measures announced by the European Commission (EC) in the 'Fit for 55' climate package for the European Union (EU).

The package is aimed at ensuring the EU can reach its goal of reducing greenhouse gas (GHG) emissions by at least 55% by 2030, compared to 1990 levels, with the longer term aim of supporting Europe’s ambition to become the world’s first climate-neutral continent by 2050.

Sujith Kollamthodi, Ricardo Director of Policy, Strategy and Economics Practice, said: “Our involvement with the Fit for 55 package is linked to other work we are carrying out to support the European Commission, governments and industry in helping meet the EU’s Green Deal objectives and is something we are very proud of. The overall package is very ambitious and businesses across all sectors of the economy will need to understand the implications of each Fit for 55 initiative on their current and future strategies and operations. Our experts already have deep insights on these implications through our direct involvement in supporting the Commission with technical and economic analysis that underpins key elements of the package.”

Ricardo teams have provided analytical support to the EC to support various initiatives in the package, including revisions to the EU Emissions Trading System (ETS); revision of the Directive on deployment of alternative fuels infrastructure and addressing GHG emissions from the maritime shipping sector.

Ricardo says its expertise in policy analysis across a wide range of topic areas has contributed to the EU’s ambition to make Europe the first climate-neutral continent by 2050.

Among investigations into other sectors of the transport industry, including road and aviation, Ricardo supported the EC in assessing options to address GHG emissions from the maritime sector. Specialists analysed possible options to incorporate maritime transport into the EU ETS, as well as possible alternative options or combinations for the sector to contribute to climate mitigation efforts.

This assessment for the maritime sector has fed into the Commission’s wider review of the EU ETS. The study considered different scope options for a trading system (geographical and emissions) and other design elements, such as regulated entity, potential exemptions, and revenue recycling.  The analysis provided insights on how the maritime transport sector may need to adapt and evolve in the near future (including through the applications of new technologies and fuels) as the need to reduce GHG emissions becomes ever more important.

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