In July the European Commission published ‘Fit for 55’ – the package intended to set the EU on the path to a greenhouse gas (GHG) emissions reduction of 55% by 2030 and, ultimately, climate neutrality by 2050. The package contains more than a dozen legislative proposals, both for new and existing laws. However, the package still leaves many fundamental political choices to be addressed in negotiations by the Council and European Parliament. Most flagrant among these choices are free allocation volumes to industry, and whether the carbon border adjustment mechanism will actually come into effect or remain a paper tiger.