Q&A: What the EU’s carbon market review means for climate action

The European Commission has put forward new plans to cut emissions under the EU carbon market more slowly, from 2031 onwards. 

On 17 July, the commission presented its long-awaited proposal for reform of the EU’s Emissions Trading System (ETS). 

It recommended a number of changes, including giving companies free allowances to cover their emissions for longer than previously planned, conditional on climate investment plans. 

The proposal offers a more business-friendly and “savvy” approach, argued EU climate commissioner Wopke Hoekstra in a press conference. 

But critics believe it could “weaken” the system and put EU climate targets at risk. 

Alongside the proposal, the commission also announced a new target for electricity to make up 46% of energy consumption by 2040, doubling

Original Record.

This archived record authored by ‘Orla Dwyer’ at ‘Carbon Brief’ was recovered from data set:

https://www.carbonbrief.org/qa-what-the-eus-carbon-market-review-means-for-climate-action/