Key Regulatory Actions

1. European Climate Law: The European Union has committed to carbon neutrality by 2050 and raised the emissions reduction objective for 2030 from 40% to 55%.
2. Fit-for-55 Package: The EU is developing a legislative package to review and reform existing energy and climate regulations.
3. Next Generation EU Funds: The EU has approved funds to support the recovery and implementation of climate measures

Key Challenges

1. Electrification: The integration of renewable energy sources into the grid and the electrification of end uses are critical for efficient decarbonisation.
2. Cost and Competitiveness: Decarbonisation requires significant investment and can be costly, especially for sectors where electrification is not competitive.
3. Global Cooperation: Decarbonisation efforts require international cooperation and coordination to achieve the ambitious targets set by the Paris Agreement

Key Benefits

1. Economic Growth: Decarbonisation can drive economic growth through the development of green technologies and sustainable industries.
2. Job Creation: The transition to a low-carbon economy can create new job opportunities in the renewable energy sector.
3. Environmental Protection: Decarbonisation helps protect the environment by reducing the concentration of GHGs and mitigating the impacts of climate change

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