The European Commission has presented a legislative proposal to revise the EU emissions trading system (EU ETS) for the period after 2020, in line with the 2030 climate and energy policy framework and the Energy Union (EU) strategy.
It represents the first legislative step in delivering on the EU’s target to reduce greenhouse gas (GHG) emissions by at least 40% domestically by 2030 as part of its contribution to the new global climate deal due to be adopted in Paris in December.
The EU ETS is a cornerstone of the EU’s policy to combat climate change and its key tool for reducing industrial GHG emissions cost-effectively. It is the first – and still by far the biggest – international system for trading GHG emission allowances, covering more than 11,000 power stations and industrial plants in 31 countries, as well as airlines (in limited circumstances), and is looking to include maritime vehicles one day.
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