22 December, 2023

Untangling EU Climate and Energy Policy


MBB publication offers overview of EU Fit For 55 outcomes

The Malta Business Bureau has published a detailed report on the outcomes of the negotiations on the Fit For 55 package. The latter includes a set of EU proposals issued in 2021 by the European Commission to accelerate the bloc’s efforts to achieve their ambitious climate targets. The proposals were put forward in line with the EU Green Deal.

The package aims to introduce several new policies, while reforming existing ones, with the aim of reducing greenhouse gas emissions by at least 55% below 1990 levels by 2030. Measures tackle various high emitting sectors and industries, such as energy production, transport, buildings, and industry.
New rules are poised to bring significant changes to the way businesses operate. Understanding these changes will be crucial for businesses to adapt their strategies and ensure long-term sustainability. To this end, the MBB compiled a comprehensive report to supply valuable insights into the implications for businesses.

Commenting on the launch, MBB President Alison Mizzi said “The Fit For 55 package will bring about changes for businesses to meet our collective climate targets. In the last years, businesses have experienced a barrage of new legislation which is difficult to keep track of, especially for SMEs. We trust that this publication will serve as a useful tool to decipher the complex web of EU climate policies and identify the potential impact of the new legislation in the coming years.”

The publication provides an overview of new rules concerning energy efficiency, renewable energy, sustainable fuels, transport, energy taxation, and carbon pricing.

On energy, the focus is placed on increasing the share of renewable production and significantly increasing energy efficiency. Likewise, building owners and industry will be expected to gradually increase the energy efficiency of their operations through, for instance, more efficient equipment and building renovation, while increasing investment in greener energy onsite.

Aviation and maritime operators will be expected to gradually shift towards the use of sustainable fuels and embrace greener practices such as connecting to onshore power supplies and only carrying the fuel required to complete a trip to avoid excess weight.

The sale of new Internal Combustion Engine (ICE) cars shall be banned as from 2035 to reduce the environmental impact of road transport. At the same time, the use of carbon-based fuels across various sectors will be gradually disincentivized through higher taxes and other costs.

Significant challenges and opportunities arise from the Fit For 55 package legislation. While many businesses are in favour of a stronger green agenda, concerns over competitiveness, rising costs, and the impact on small peripheral member states, have also been put forward.

The new rules will be gradually implemented over the next years. For more detailed information and to view the full publication visit www.mbb.org.mt.

The Malta Business Bureau is the EU business advisory organisation of The Malta Chamber and The Malta Hotels and Restaurants Association. It is also a partner of the Enterprise Europe Network.

All News

View All

19 June, 2024

The Malta Chamber Urges for a Holistic Approach to Planning and Develo...

...

Learn More
18 June, 2024

The Malta Chamber active at the Eurochambres Congress 2024...

...

Learn More
12 June, 2024

Malta Business Bureau Congratulates Newly Elected MEPs...

...

Learn More
28 May, 2024

Business session on labour & skills shortages highlights importanc...

...

Learn More

All News

View All

Chamber News

19 June, 2024

The Malta Chamber Urges for a Holistic Approach to Planning and Develo...

...

Learn More

Chamber News

18 June, 2024

Raphael Aloisio Appointed Malta Business Bureau President...

...

Learn More

Chamber News

18 June, 2024

The Malta Chamber active at the Eurochambres Congress 2024...

...

Learn More

Chamber News

12 June, 2024

Malta Business Bureau Congratulates Newly Elected MEPs...

...

Learn More

upcoming events

View All

Upcoming Events

25 June, 2024

Secure your Green Future - Funding Opportunities for Sustainable Initiatives

...

Learn More

Upcoming Events

27 June, 2024

Empowerpreneur Workshop 3 - Achieving the Dream through the Team

...

Learn More

Upcoming Events

04 July, 2024

Virtual Q&A with Jobsplus (Session 1)

...

Learn More

Upcoming Events

09 July, 2024

Virtual Q&A with Jobsplus (Session 2)

...

Learn More

upcoming events

View All

25 Jun
upcoming event 25 June, 2024, 10:00 AM

Secure your Green Future - Funding Opportunities for Sustainable Initiatives

Learn More
27 Jun
upcoming event 27 June, 2024, 06:00 PM

Empowerpreneur Workshop 3 - Achieving the Dream through the Team

Learn More
04 Jul
upcoming event 04 July, 2024, 08:15 AM

Virtual Q&A with Jobsplus (Session 1)

Learn More
09 Jul
upcoming event 09 July, 2024, 08:15 AM

Virtual Q&A with Jobsplus (Session 2)

Learn More
09 Jul
upcoming event 09 July, 2024, 12:00 PM

Doing Business with Türkiye

Learn More
23 Jul
upcoming event 23 July, 2024, 09:00 AM

Info Session about Business Enhance Schemes

Learn More