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European Parliament votes for carbon market reform

 Last Update: 2022-10-09
 Source: Internet
 Author: User

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The European Parliament voted on the 22nd to support the draft law on carbon market reform, calling for corresponding reforms to the EU carbon emissions trading system and faster and wider implementation of the carbon border adjustment mechanism (CBAM)

On the same day, the majority of parliamentarians voted to completely eliminate free carbon emission quotas for related industries by 2032, and to start the gradual implementation of the carbon border adjustment mechanism sooner.

Next, negotiations will be held between the European Parliament and EU member states to complete the final legislative process of the relevant draft laws

The European Commission proposed a package of environmental proposals last year aimed at reducing net EU greenhouse gas emissions by at least 55% by 2030 compared with 1990 levels and achieving carbon neutrality by 2050

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