Meetings

Tuesday 25 April 2023

● Eurogroup

25/04/2023 13:57 | MEETING |

Agenda highlights - Eurogroup, 28 April 2023

The Eurogroup will follow-up on progress with the work on the banking union and take stock of macroeconomic and financial stability developments. Ministers will also exchange views on the capital markets union following a debrief by the Eurogroup president on the Euro Summit of March. Furthermore, ministers will prepare for the upcoming G7 meeting of finance ministers and central bank governors in May.

Eurogroup
Eurogroup, 28 April 2023

Agenda highlights
Banking union and banking sector developments
Macroeconomic and financial developments

The Eurogroup will take stock of macroeconomic and financial stability developments. The Commission and the European Central Bank (ECB) will update ministers on the macroeconomic and financial situation. The chair of the ECB Supervisory Board, Andrea Enria, and the chair of the Single Resolution Board, Dominique Laboureix, will provide their assessment of recent banking sector developments. This will allow for a broad exchange of views and offer preliminary insights for policy makers into recent developments in the international banking sector. The chair of the European Parliament's committee on economic and monetary affairs, Irene Tinagli, has been invited to participate in the discussion.
Eurogroup statement on the future of the banking union

Ministers will follow-up on the Eurogroup statement on the banking union of June 2022. In this context, the Commission is invited to present the main objectives of its legislative package on the crisis management and deposit insurance framework that was presented on 18 April 2023.

Ministers are expected to have a high-level discussion, while the legislative process will take place in the Council.Banking union (background information)
Eurogroup statement on the future of the banking union (press release, 16 June 2022)
Banking union: Commission proposes reform of bank crisis management and deposit insurance framework (European Commission)
March Euro summit

The Eurogroup president Paschal Donohoe will debrief ministers on the Euro Summit that took place on 24 March 2023. He will also present the follow-up work for the Eurogroup, including a number of strategic aspects related to the capital markets union without prejudice to the legislative proposals.Euro Summit, 24 March 2023
Letter from the president of the Eurogroup, Paschal Donohoe, to the president of the Euro Summit, Charles Michel, ahead of the Euro Summit on 24 March 2023
Capital markets union (background information)
International meetings

The Eurogroup president, the institutions and the chair of the International Monetary and Financial Committee (IMFC), Nadia Calviño, will debrief ministers on the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, which will serve as background in preparation for the forthcoming G7 meeting of finance ministers and central bank governors that will take place in Japan in May.G7 finance ministers and central bank governors’ meeting
G7 finance ministers and central bank governors’ statement (press release, 12 April 2023)
Miscellaneous
Policy priorities of the Estonian government

The new Estonian finance minister, Mart Võrklaev, will present the policy priorities of the government. This is standard practice in the Eurogroup when new governments take office.

Meeting information

Stockholm
28 April 2023
09:00
Preparatory documentsDraft agenda, Eurogroup in inclusive format
Draft annotated agenda, Eurogroup in inclusive format

Press material

Thursday 27 April 2023

● General Secretariat

27/04/2023 12:03 | Press release |

Europe Day 2023: celebrating European unity

On 9 May, the European Union will celebrate Europe Day 2023, a moment to commemorate the Schuman Declaration on 9 May 1950. To mark the special occasion, the EU institutions, including EU delegations and representations worldwide, will organise a wide range of online and on-site activities, providing citizens with the opportunity to discover and experience the European Union.

This May, Europe Day will bring citizens together to learn more about how the EU is supporting peace, security and democracy through its resolve in face of the Russian war of aggression against Ukraine and other conflicts worldwide. Europe Day 2023 will also enable visitors to get better acquainted with the EU’s efforts to build a Europe which is green, digital and competitive, fair and skilled, as well as strong, resilient and safe. This year, it will also shed special light on the 2023 European Year of Skills, which will kick-off on 9 May.

On and around Europe Day, the EU institutions will host a wide range of interactive activities at their locations across the 27 EU member states and around the world.

EU citizens will be able to experience the EU institutions in Brussels, Luxembourg and Strasbourg:

Saturday, 6 May: In Brussels, citizens will be able to visit the EU institutions. More information on the programme of activities can be found here.
Tuesday, 9 May: Citizens will be able to visit the European Court of Justice and the European village in Luxembourg city, set up by the Commission representation together with the national authorities, member states’ embassies, EU Institutions based in Luxembourg and civil society. More information is available here.
Saturday, 13 May: Members of the public will be able to look around the European Parliament in Strasbourg and see the seat of Europe’s largest democratic body. More details can be found here.

On 9 May, the EU will also host the European Year of Skills Festival. The festival will link to many other activities putting skills centre stage in different parts of Europe. On the dedicated EYS website more information can be discovered about the European Year of Skills, as well as further details on local activities across Europe.

Throughout the 27 EU member states and across the world, the EU institutions with their partners and networks will celebrate Europe Day through a host of engaging, informative and entertaining activities. The Representations of the European Commission in close cooperation with the European Parliament Liaison Offices, the Europe Direct Centres and other national and regional partners plan various actions to mark the day like edutainment activities and quizzes, festivals, sportive activities, cultural events and debates but also visibility activities and social media campaigns.

In addition, EU Delegations will mark Europe Day all around the world and highlight European unity and solidarity.

For more details on the EU’s 2023 Europe Day activities, please visit the interinstitutional Europe Day web page.

Further information

Hashtag: #EuropeDay

Contacts for citizens in all EU official languages, Ukrainian and Russian: https://european-union.europa.eu/contact-eu_en

Press material

Wednesday 26 April 2023

● Council of the EU

26/04/2023 00:01 | Press release |

Council and Parliament agree to decarbonise the aviation sector

The Council and the European Parliament reached a provisional political agreement on a proposal aiming to decarbonise the aviation sector and create a level playing field for a sustainable air transport (ReFuelEU Aviation initiative).

The proposal aims to increase both demand for and supply of sustainable aviation fuels (SAF), while ensuring a level playing field across the EU air transport market. It is a major proposal which aims to put air transport on the trajectory of the EU’s climate targets for 2030 and 2050, as SAF are one of the key short- and medium-term tools for decarbonising aviation. It should provide a way out of the situation which is hindering their development: low supply and prices that are still much higher than fossil fuels.

Main aspects of the Commission proposal retained

The text of the provisional agreement retains the core aspects of the Commission’s proposal, including the extent to which it contributes to meeting climate targets. Key elements of the agreement include:

The obligation for aviation fuel suppliers to ensure that all fuel made available to aircraft operators at EU airports contains a minimum share of SAF from 2025 and, from 2030, a minimum share of synthetic fuels, with both shares increasing progressively until 2050
The establishment of a transitional period allowing fuel suppliers to reach the SAF blending mandate as a weighted average of the quantities they have supplied across the Union, in order to facilitate the organisation of the sector during its creation phase, without affecting the overall level of emissions
The obligation for aircraft operators to ensure that the yearly quantity of aviation fuel uplifted at a given EU airport is at least 90% of the yearly aviation fuel required, to avoid emissions related to extra weight caused by tankering practices
Reportingobligations for fuel suppliers and aircraft operators
Rules on the competent authorities, to be designated by the member states to enforce this regulation, and rules on fines

Main amendments to the Commission’s proposal

The text of the provisional agreement amends, however, some aspects of the Commission’s proposal, with a view to facilitating and accelerating the development of SAF, in particular:

The extension of the scope regarding Union airports and aircraft operators
The extension of the scope of eligible sustainable aviation fuels and synthetic aviation fuels. For biofuels, the scope is extended to other certified biofuels complying with the Renewable Energy Directive (RED) sustainability and emissions saving criteria, up to a maximum of 70%, with the exception of biofuels from food and feed crops and the addition of two fuels (hydrogen and synthetic low-carbon aviation fuels), which can be used to reach the minimum shares in the respective part of the regulation
The introduction of the possibility for the competent authorities of the member states to grant an exemption from the tankering provisions for certain flights in the event of serious and recurrent operational difficulties or structural difficulties in the supply of fuel in accordance with identified criteria
The promotion of hydrogen at the Union airports
The creation of a Union labelling scheme about environmental performance for aircraft operators using SAF will help consumers make informed choices and will promote greener flights
Data collection and the reporting obligations have been reinforced to monitor the effects of this regulation on the competitiveness of EU operators and platforms, and to improve knowledge of the non-CO2 effects of air transport emissions
New considerations that the Commission is expected to include in its report in 2027, such as the impact of this regulation on connectivity, on carbon leakage and distortions of competition, and on the future use of hydrogen and electricity.

Press material

Tuesday 25 April 2023

● Council of the EU

25/04/2023 18:17 | Press release |

Promoting a more sustainable, competitive and resilient Europe and boosting rural areas: Council approves conclusions on the opportunities of the bioeconomy

Using biomass to produce food, materials and energy can help boost rural communities, increase competitiveness and combat many of the challenges that the EU is faced with. These are the conclusions put forward by farming ministers on the opportunities that a sustainable and circular bioeconomy presents for a greener, fairer and more competitive Europe.

"The bioeconomy carries clear potential for addressing the challenges facing the EU today, including climate change, fossil-fuel dependency and food security. Promoting the bioeconomy in rural areas is a priority for Sweden, in particular given the opportunities it presents for job creation and encouraging rural regeneration."
Peter Kullgren, Swedish Minister for Rural Affairs

In their conclusions, ministers highlighted the key role that the bioeconomy could play in achieving the environmental and climate goals under the European Green Deal, while also making the EU more competitive, helping it transition away from fossil-fuel dependency, and strengthening food security in the wake of Russia’s war of aggression against Ukraine. They also stressed the importance of promoting research and innovation and improving alignment between scientific advances and industry policy. The conclusions will provide political guidance for the European Commission and member states on developing the potential of the bioeconomy in Europe.

Press material

Tuesday 25 April 2023

● Council of the EU

25/04/2023 12:10 | Press release |

'Fit for 55': Council adopts key pieces of legislation delivering on 2030 climate targets

The Council today adopted five laws that will enable the EU to cut greenhouse gas emissions within the main sectors of the economy, while making sure that the most vulnerable citizens and micro-enterprises, as well as the sectors exposed to carbon leakage, are effectively supported in the climate transition.

The laws are part of the 'Fit for 55' package, which sets the EU’s policies in line with its commitment to reduce its net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels and to achieve climate neutrality in 2050.

The vote in the Council is the last step of the decision-making procedure.

EU emissions trading system

The EU Emissions Trading System (EU ETS) is a carbon market based on a system of cap-and-trade of emissions allowances for energy-intensive industries, the power generation sector and the aviation sector.

The new rules increase the overall ambition of emissions reductions by 2030 in the sectors covered by the EU ETS to 62% compared to 2005 levels.

Maritime transport emissions

Emissions from shipping will be included within the scope of the EU ETS for the first time. Obligations for shipping companies to surrender allowances will be introduced gradually: 40% for verified emissions from 2024, 70% from 2025 and 100% from 2026.

Most large vessels will be included within the scope of the EU ETS from the start, while other big vessels, namely offshore vessels, will be included in the 'MRV' regulation on the monitoring, reporting and verification of CO2 emissions from maritime transport first, and only later included in the EU ETS.

Non-CO2 emissions (methane and N2O) will be included in the ‘MRV’ regulation from 2024 and in the EU ETS from 2026.

Buildings, road transport and additional sectors

A new, separate emissions trading system for the buildings, road transport and additional sectors (mainly small industry) has been established, in order to ensure cost-efficient emissions reductions in these sectors, which have thus far proven difficult to decarbonise. The new system will apply to distributors that supply fuels to the buildings, road transport and additional sectors from 2027. A safeguard has been put in place whereby if the price of oil and gas are exceptionally high in the run up to the start of the new system, this will be postponed until 2028.

Emissions from aviation

Free emission allowances for the aviation sector will be gradually phased out and full auctioning from 2026 will be implemented. Until 31 December 2030, 20 million allowances will be reserved to incentivise the transition of aircraft operators from the use of fossil fuels.

The EU ETS will apply for intra-European flights (including departing flights to the United Kingdom and Switzerland), while CORSIA will apply to extra-European flights to and from third countries participating in CORSIA from 2022 to 2027 ('clean cut').

Transparency on aircraft operators’ emissions and offsetting will also be improved and a monitoring, reporting and verification framework for non-CO2 aviation effects will be set up. By 1 January 2028, building on the results of that framework, the Commission will propose, where appropriate, mitigation measures for non CO2 aviation effects.

Carbon Border Adjustment Mechanism

The Carbon Border Adjustment Mechanism (CBAM) is a mechanism which concerns imports of products in carbon-intensive industries. The objective of CBAM is to prevent - in full compliance with international trade rules - that the greenhouse gas emissions reduction efforts of the EU are offset by increasing emissions outside its borders through the relocation of production to EU countries where policies applied to fight climate change are less ambitious than those of the EU or increased imports of carbon-intensive products.

Until the end of 2025 the CBAM will apply only as a reporting obligation. CBAM will be phased in gradually, in parallel to a phasing out of the free allowances, once it begins under the revised EU ETS for the sectors concerned. Free allowances for sectors covered by the Carbon Border Adjustment Mechanism - cement, aluminium, fertilisers, electric energy production, hydrogen, iron and steel, as well as some precursors and a limited number of downstream products - will be phased out over a nine-year period between 2026 and 2034.

CBAM promotes the import of goods by non-EU businesses into the EU which fulfil the high climate standards applicable in the 27 EU member states. This will ensure a balanced treatment of such imports and is designed to encourage the EU’s partners in the world to join the EU’s climate efforts.

The Social Climate Fund

The Social Climate Fund will be used by member states to finance measures and investments to support vulnerable households, micro-enterprises and transport users and help them cope with the price impacts of an emissions trading system for the buildings, road transport and additional sectors.

The fund will be funded by revenues mainly from the new emissions trading system up to a maximum amount of EUR 65 billion, to be supplemented by national contributions. It is established temporarily over the period 2026-2032.

Background

The Council today voted on the following laws of the 'Fit for 55' package:

Revision of the ETS Directive
Amendment of the MRV shipping Regulation
Revision of the ETS Aviation Directive
Regulation establishing a Social Climate Fund
Regulation establishing a Carbon Border Adjustment Mechanism

Presented by the European Commission on 14 July 2021 under the European Green Deal, the 'Fit for 55' package will enable the EU to reduce its net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels and achieve climate neutrality in 2050.

The Council and the European Parliament reached a provisional agreement on ETS aviation on 7 December 2022, on CBAM on 13 December 2022 and on the EU ETS and the SCF on 18 December 2022. The Parliament formally adopted the laws on 18 April 2023.