News & Events

EU Emissions Trading System revision shows commitment to Paris agreement

Share this Post:

EU Emissions Trading System to be revised to go in line with the Paris Agreement

 

The EU has reached a provisional agreement to revise its Emissions Trading System (EU ETS) for the period after 2020 - a crucial move amid the ongoing climate negotiations in Bonn. Following the proposal from the European Commission (EC) to revise the EU ETS in July 2015, the European Parliament and the Council embarked on two years of negotiations to increase the EU carbon price and reduce emission allowances. The EC proposal had argued that the sectors covered by the ETS have to reduce their emissions by 43% compared to 2005. For this target to be achieved, the overall number of emission allowances will decline at an annual rate of 2.2% from 2021 onwards, compared to 1.74% currently. This reduction rate amounts to an additional emissions reduction in the sectors covered by the ETS of approximately (...)

 

Original source:  Climate Action Programme

 

 

Read more on Construction21