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European lawmakers voted in favor of reforming the EU carbon market
after 2020.
EU lawmakers voted to reform the carbon market after 2020
The draft law, which has received informal consent from EU ministers, will accelerate the annual auction
of reduced allowances for the Emissions Trading System (ETS).
This will also double the market's stable reserve capacity to eliminate excess emission allowances
from the market.
The EU ETS sets a cap
on the total amount of greenhouse gases emitted by the covered sectors.
Under the cap, companies trade with each other, sell or buy emission allowances
as needed.
The reform aims to help the EU achieve at least 40% of its greenhouse gas reduction target
by 2030.
Of the 678 members with the right to vote, 535 voted in favour, 104 against and 39 abstentions
.
，
European lawmakers voted in favor of reforming the EU carbon market
after 2020.
EU lawmakers voted to reform the carbon market after 2020
EU lawmakers voted to reform the carbon market after 2020The draft law, which has received informal consent from EU ministers, will accelerate the annual auction
of reduced allowances for the Emissions Trading System (ETS).
This will also double the market's stable reserve capacity to eliminate excess emission allowances
from the market.
The EU ETS sets a cap
on the total amount of greenhouse gases emitted by the covered sectors.
Under the cap, companies trade with each other, sell or buy emission allowances
as needed.
The reform aims to help the EU achieve at least 40% of its greenhouse gas reduction target
by 2030.
Of the 678 members with the right to vote, 535 voted in favour, 104 against and 39 abstentions
.
，
