Recital (4)

In order to propose the Union 2040 climate target, the Commission considered the following elements: the best available and most recent scientific evidence, including the latest reports of the Intergovernmental Panel on Climate Change (IPCC) and the Advisory Board; the social, economic and environmental impacts, including the costs of inaction; the need to ensure a just and socially fair transition for all; cost-effectiveness and economic efficiency; competitiveness of the Union’s economy, in particular that of small and medium-sized enterprises (SMEs) and of sectors most exposed to carbon leakage; best available cost-effective, safe and scalable technologies; energy efficiency, including the energy efficiency first principle; energy affordability and security of supply for all Member States; fairness and solidarity between and within Member States; the need to ensure environmental effectiveness and progression over time; the need to maintain, manage and enhance natural sinks in the long term and protect and restore biodiversity, including in the marine environment; investment needs and opportunities; international developments and efforts undertaken to achieve the long-term objectives of the Paris Agreement and the ultimate objective of the United Nations Framework Convention on Climate Change; and existing information on the projected indicative Union greenhouse gas budget for the 2030-2050 period.