Commission seeks belt and braces reforms for EU ETS

The European Commission has proposed hefty reforms to tighten the EU emissions trading scheme from 2021. They aim to create price stability and investor confidence

The European Commission has finally staked out its position on post-2020 reforms needed for its ailing EU emissions trading scheme (EU ETS).

A planned steeper emissions reduction trajectory and market stability mechanism will be key to restoring a strong and sustained carbon price signal to mitigate greenhouse gas emissions, it says.

The reforms will be controversial, requiring amendments to the EU ETS directive (Directive 2003/87/EC), to be approved by the European Council and European Parliament. And approval will be complicated, not least by industry concerns over the impact of costs on competitiveness and forthcoming European elections in May.

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