Net-zero emissions in the context of "Carbon dioxide removal"

The European Green Deal, approved in 2020, is a set of policy initiatives by the European Commission with the overarching aim of making the European Union (EU) climate neutral in 2050. The plan is to review each existing law on its climate merits, and also introduce new legislation on the circular economy (CE), building renovation, biodiversity, farming and innovation.

The president of the European Commission, Ursula von der Leyen, stated that the European Green Deal would be Europe's "man on the moon moment". On 13 December 2019, the European Council decided to press ahead with the plan, with an opt-out for Poland. On 15 January 2020, the European Parliament voted to support the deal as well, with requests for higher ambition. A year later, the European Climate Law was passed, which legislated that greenhouse gas emissions should be 55% lower in 2030 compared to 1990. The Fit for 55 package is a large set of proposed legislation detailing how the European Union plans to reach this target. ETS2 is the new EU Emissions Trading System that will enter into force in 2027 and, for the first time in history, will set a price for CO2 emissions from fuels used in the building and road transport sectors.

An energy transition (or energy system transformation) is a major structural change to energy supply and consumption in an energy system. Currently, a transition to sustainable energy is underway to limit climate change. Most of the sustainable energy is renewable energy. Therefore, another term for energy transition is renewable energy transition. The current transition aims to reduce greenhouse gas emissions from energy quickly and sustainably, mostly by phasing-down fossil fuels and changing as many processes as possible to operate on low carbon electricity. A previous energy transition perhaps took place during the Industrial Revolution from 1760 onwards, from wood and other biomass to coal, followed by oil and later natural gas.

Over three-quarters of the world's energy needs are met by burning fossil fuels, but this usage emits greenhouse gases. Energy production and consumption are responsible for most human-caused greenhouse gas emissions. To meet the goals of the 2015 Paris Agreement on climate change, emissions must be reduced as soon as possible and reach net-zero by mid-century. Since the late 2010s, the renewable energy transition has also been driven by the rapidly falling cost of both solar and wind power. After 2024, clean energy is cheaper than ever. Global solar module prices fell 35 percent to less than 9 cents/kWh. EV batteries saw their best price decline in seven years. Another benefit of the energy transition is its potential to reduce the health and environmental impacts of the energy industry.

Over half the energy in Russia is from fossil gas and almost a quarter from oil.

Energy consumption across Russia in 2020 was 7,863 TWh. Russia is a leading global exporter of oil and natural gasand is the fourth highest greenhouse emitter in the world. In 2019 Russia adopted the Paris Agreement. Although Russia aims to be carbon neutral by 2060, its assumptions on its greenhouse gas emissions from fossil fuels being absorbed by forests have been questioned.