The EU committee has set itself the goal of significantly reducing greenhouse gas emissions by 2040. From 2036, a maximum of three percent of the emissions of 1990 would be compensated by an international certificate trade, promised climate commissioner Wopke Hoekstra.
At the same time, more flexibility was mentioned on Wednesday. Companies fear that competitiveness should be born by too ambitious climate goals. You must be a predictable and reliable partner for innovations and investments, said it from the economy. The new certificate trade, which was presented on Wednesday, refers to Article 6 of the Paris Climate Agreement and must be set up in addition to the existing internal European trade.
This instrument for climate protection has been around since 2005, consists of the energy industry, parts of flight and seaside, which means that approximately 40 percent of the EU emissions of the greenhouse gases covers. It is determined in advance how much greenhouse gas can be turned off in a period.
This amount is auctioned in the form of so -driven emission certificates to companies that therefore pay money for their emissions. A part is distributed for free.
This is how the trade in the certificates works:
Anyone who causes more emissions than he has to buy pollution rights. Those who produce more environmentally friendly can sell surplus certificates on the market or bring them to the next period. The total number of certificates is covered.
According to the EU committee, emissions will be reduced by 54 percent by 2030 if all national climate plans are added together. The government of Austria strives for 2040 climate neutrality, the EU has only set this goal before 2050.
“Austria will actively contribute together with the federal states, communities and European partners. Environmental and climate protection is an opportunity if you do well (…). That is why I also speak to seriously investigating the possibilities of saving CO₂,” said Milieu Norbert Tettschnig (ÖVP) Minister. Investments are currently being made in climate -friendly technologies such as renewable energetic. To make climate-friendly heating systems easier to implement, reforms in rental and home ownership legislation are still needed.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
