The Council and Parliament have agreed to increase emissions reductions to 62% by 2030 in the sectors covered by the Emissions Trading Scheme, and to create a Social Climate Fund.
Euskaraz irakurri: EBk funtsezko acordioa lortu du CO2 isurketak murrizteko
The Council and the European Parliament reached an important agreement this morning reduce CO2 emissions and address their social impact in a pact pending formal approval by both institutions.
The agreement, part of the package ‘Goal 55’, touches on the one hand the so-called Emission Rights Trading Regime. In this sense, the Council and Parliament have agreed to increase the emission reduction to 62% by 2030 in the sectors covered by this scheme.
This reform was considered key to achieving the stated objective reduce CO2 emissions by 55% by 2030 from 1990 levels.
On the other hand, the Council and Parliament have agreed to a Social Climate Fund to help vulnerable households, micro-enterprises and transport users deal with the price effects of an emissions scheme for buildings and road transport, and fuels for other sectors.
In addition, free CO2 certificatesgranted to the industry to remain competitive with rivals from outside the European bloc, will be completely phased out by 2034with the entry into force, from 2026, of a planned carbon border adjustment mechanism, after a transitional period of three years.
Czech Environment Minister Marian Jurecka hailed the agreement as one “victory for the climate and European climate policy”. “We can now safely say that the EU has delivered on its promises with ambitious legislation and that this puts us at the forefront of the fight against climate change worldwide,” he celebrated.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
