Law No. LP74/2024 “On climate action”.

This Law establishes a regulatory framework aimed at achieving climate neutrality by 2050, aligning with the long-term temperature goals set forth in the Paris Agreement. It emphasizes the gradual and irreversible reduction of greenhouse gas (GHG) emissions to protect human health, ecosystems, and biodiversity from climate change threats. The overarching legal principles include the polluter pays principle and the establishment of a financial mechanism for carbon pricing, which are integral to the policy goals of enhancing climate resilience and adaptation. The document outlines several key measures, including the development of policies and normative acts focused on reducing GHG emissions and adapting to climate change. Specific actions include the formulation of guidelines for fuel consumption and CO2 emissions, monitoring the implementation of regulations in aviation and maritime transport, and ensuring public access to information regarding low-carbon technologies. It also mandates the evaluation of investment projects and policy documents for their climate impact, ensuring transparency in decision-making processes related to climate actions. The implementation plan involves coordination among public authorities, with the Government responsible for approving policies and financial mechanisms related to climate actions. The Ministry of Environment plays a crucial role in developing and promoting relevant policies, ensuring compliance with international treaties. Secondary themes include the importance of transparency in policy formulation and the establishment of a working group comprising representatives from business, academia, and civil society to facilitate stakeholder involvement in climate action initiatives.