As is well known, the EU wants to reduce CO2 emissions by 55 percent in 2030 compared to 1990 and to be climate neutral in 2050. Now one of the central instruments is being tightened up: emissions trading.
Negotiators from the EU parliament and states reached agreement early Sunday morning on a reform of EU emissions trading, as announced by the Czech presidency of the Council. Companies must buy environmental certificates if they emit CO2. This should create an incentive to produce less CO2. Now the number of pollution rights must be reduced more quickly than previously planned. In addition, free certificates for companies must be phased out by 2034.
The system is also being extended to heating buildings and transport. In addition, a social climate fund should be set up to absorb extra consumer expenditure as a result of the energy transition – such as rising heating costs. That should be about 86 billion euros. This is intended to relieve households and finance investments, for example in more efficient buildings. The agreement still needs to be ratified by the EU parliament and states, but this is considered a formality.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
