The Fit for 55 plan still needs to be approved by the 27 member states and the EU parliament, this process could take up to two years to complete.

The proposals state that the EU will tighten emission limits for cars which will in effect end new petrol and diesel car sales in the EU by 2040 and will overhaul the EU Emissions Trading System, the biggest carbon market in the world. This will force factories, power plants, and airlines to pay more when they emit CO2. Ships will also be added to the EU Emissions Trading System (ETS), requiring ship owners to pay for their pollution for the first time.