EU seals carbon market reform to speed cuts in greenhouse gases

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The EU's 27 member countries gave final approval Tuesday to a sweeping reform of the bloc's carbon market to accelerate the reduction in greenhouse gases, including a new carbon border tax on imports. ManilaBulletin

The sign-off, in a Luxembourg meeting of EU agriculture ministers, endorses a European Parliament vote last week on various legislative texts in the reform, which will come into force once published.

Carbon from individuals' vehicles and homes will also be counted, though at a capped level until 2030. The incoming legislation supports the EU goal of cutting 55 percent of greenhouse gas emissions in the bloc by 2030, compared to the levels recorded in 1990.

 

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