Lawmakers strike deal ahead of EU carbon market vote

The parliament dealt a blow to European Union climate policies last week, when it rejected an agreement on the bloc's carbon market amid disputes over how ambitious Europe's biggest emissions-cutting policy should be.

The lawmakers' compromise would see parliament support a 63% cut in emissions covered by the EU carbon market by 2030 - versus the 61% proposed by the European Commission, which drafts EU laws, and the 67% supported in an early parliament deal. EPP lawmaker Esther de Lange said it would deliver climate goals but reflected the "very difficult economic situation" facing industries that will face higher CO2 costs this decade - for example, by imposing two smaller "rebasing" cuts to the supply of carbon market permits, rather than one big cut upfront.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dozens of companies, small business groups back U.S. bill to rein in Big TechDozens of companies and business organizations are sending a letter to U.S. senators on Monday to urge them to support a bill aimed at reining in the biggest tech companies, such as Amazon.com and Alphabet's Google.
Source: Reuters - 🏆 2. / 97 Read more »