Driving climate action in Greece

Context

Greece aims to reduce its greenhouse gas emissions by at least 54 per cent by 2030 and reach climate neutrality by 2050. An important instrument in this context is the European Emissions Trading System, which has included maritime transport, buildings and road transport since 2023. The European Union (EU) has also established a Carbon Border Adjustment Mechanism. It is used to account for the CO2 emissions of imported goods to ensure fair competition and climate change mitigation. The EU has also set up a Social Climate Fund, which aims to cushion the financial burden of carbon prices for low-income households.

Objective

Greece has all the necessary conditions for developing a Social Climate Plan and for implementing the EU Emissions Trading Systems for maritime transport, buildings and road transport as well as the Carbon Border Adjustment Mechanism.

Approach

The project supports its Greek partners in implementing new EU climate policy requirements. It does so by operating in four core areas:

1. It is developing a Social Climate Plan for Greece so that financial resources from the Social Climate Fund can be utilised.
2. It advises the Greek Ministry of Environment and Energy on how to establish administrative processes for emissions trading in maritime transport, buildings and road transport.
3. It assists with financing for climate change mitigation measures in Greece, including through the Modernisation Fund.
4. It makes proposals on how the Carbon Border Adjustment Mechanism can be implemented in Greece.

The focus of the project is on exchanging ideas with other EU member states and expanding the expertise of the Greek project partners. In this way, the project in Greece is helping with efforts to implement suitable climate change mitigation measures, mobilise additional funding for climate action and ensure the competitiveness of products from Greek industry compared to imported products from countries with lower environmental standards.

Last update: May 2024