The European Commission is set to propose a new law to help the EU achieve climate neutrality in three decades, with the document including the creation of a "just transition fund" to help countries that oppose the carbon-neutral target of 2050, such as the Czech Republic, Hungary, and Poland, transform their energy production, news wire Reuters reports
The report says that the EC document which outlines the proposed measures will be published on December 11. The new law will be considered by March 2020.
The transition fund aims at weaning the economies of the aforementioned countries off coal and winning their support for the proposal.
Still, Estonia, Latvia, and Latvia called for a significant EU investment to aid the transition to a carbon-neutral economy in addition to the fund.
The EC is also set to propose an extension of the EUʼs Emissions Trading Scheme (ETS) to the maritime sector and possibly road transport, while also reducing free CO2 allowances for airlines.
The Unionʼs executive body is also pushing for shifting road and aviation transport to rail, aiming to move 75% of road transport to other means.
Reuters adds that discussions regarding funding the achievement of climate change goals are tied closely to negotiations over the 2021-2027 EU budget.