THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 192(1) thereof,

Having regard to the proposal from the European Commission,

After transmission of the draft legislative act to the national parliaments,

Having regard to the opinions of the European Economic and Social Committee [OJ C 364, 28.10.2020, p. 143, and OJ C 10, 11.1.2021, p. 69.],

Having regard to the opinion of the Committee of the Regions [OJ C 324, 1.10.2020, p. 58.],

Acting in accordance with the ordinary legislative procedure [Position of the European Parliament of 24 June 2021 (not yet published in the Official Journal) and decision of the Council of 28 June 2021.],

Whereas:

(1) The existential threat posed by climate change requires enhanced ambition and increased climate action by the Union and the Member States. The Union is committed to stepping up efforts to tackle climate change and to delivering on the implementation of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (the 'Paris Agreement') [OJ L 282, 19.10.2016, p. 4.], guided by its principles and on the basis of the best available scientific knowledge, in the context of the long-term temperature goal of the Paris Agreement.