Brussels will set out plans on Wednesday for the EU to become the world’s first mover on achieving net zero emissions in order to limit global warming, with a decarbonisation strategy targeting all sectors of the economy and international trade.

The European Commission will unveil 13 policies under its “Fit for 55” package — designed to address climate change by ensuring the continent meets its goal of reducing average greenhouse gas emissions by 55 per cent in 2030 and net zero by 2050, compared to 1990 levels.

The plan, dubbed the EU’s “man on the moon moment” by commission president Ursula von der Leyen, risks a backlash from poorer EU countries and some industries which argue that the pace of change and increased regulations will become a financial burden. The measures will also be examined closely by the bloc’s trading partners as their companies face penalties on exports of carbon-intensive products such as steel and cement.