The Climate Law also addresses the necessary steps to get to the 2050 target:

• Based on a comprehensive impact assessment, the EU has set a new target for 2030 of reducing net greenhouse gas emissions by at least 55% compared to levels in 1990. The new EU 2030 target is included in the Law.
• In July 2021, the Commission adopted a series of proposals to revise all relevant policy instruments to deliver the additional emissions reductions for 2030.
• The Law also includes a process for setting a 2040 climate target.

The Climate Law includes:

• a legal objective for the Union to reach climate neutrality by 2050
• an ambitious 2030 climate target of at least 55% reduction of net emissions of greenhouse gases as compared to 1990, with clarity on the contribution of emission reductions and removals
• recognition of the need to enhance the EU’s carbon sink through a more ambitious LULUCF regulation, for which the Commission made a proposal in July 2021
• a process for setting a 2040 climate target, taking into account an indicative greenhouse gas budget for 2030-2050 to be published by the Commission
• a commitment to negative emissions after 2050
• the establishment of European Scientific Advisory Board on Climate Change, that will provide independent scientific advice
• stronger provisions on adaptation to climate change
• strong coherence across Union policies with the climate neutrality objective
• a commitment to engage with sectors to prepare sector-specific roadmaps charting the path to climate neutrality in different areas of the economy

European Climate Law (europa.eu)