Hello everyone, welcome to the

PWC Taxbyte podcast series.

My name is Peter Drey and I'm happy to invite you all to join us for this podcast

on the green taxation, the Green Deal, ESG and many other aspects of the recent developments around sustainability.

We decided to do a special series in the podcast series to really focus on all these developments around ESG and Green Deal.

And for that we will in the next episodes of the podcast series zoom in on a number of specific topics around this development,

and in preparation for a deep dive that we will do in PWC on ESG and Green Deal in September.

Stay definitely tuned for that.

But for now, I would like to welcome, first of all, Evie Heertz, international tax director in my virtual recording studio,

and Jean-Philippe Van West, senior council in our team.

Avey is focusing a lot on the ESG, the impact for business, sustainability,

and Jean-Philippe is monitoring our European law developments and as you can

imagine the European Union has a particular interest around the Green Deal and ESG.

So welcome Jean-Philippe and Evie for this well first edition of the special podcast series

on the Green Deal. Yeah let's kick it off and Jean-Philippe.

One year ago, almost one year ago, we did a special podcast when the European Union announced the Fit455 package.

It's been a while one year ago, so perhaps you can refresh the minds of myself and our audience on this one.

Of course, Peter.

The Fit 455 package published by the Commission on July 14th last year

contains a set of legislative measures which altogether should result

in a reduction of net greenhouse gas emissions,

meaning so emissions after deductions of removals, by at least 55% compared to the 1990 levels.

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