What's at stake for the EU's carbon market blueprint
Summary
The European Commission will allow industries in the EU to keep emitting carbon dioxide until the 2040s as part of changes to the EU's carbon market. Starting in 2036, companies can buy carbon credits from outside the EU to offset their emissions, which may lower carbon prices and allow more pollution if EU limits run out.Key Facts
- The EU is revising its Emissions Trading System (ETS), which controls carbon emissions.
- Industries can continue emitting CO₂ gases until the 2040s.
- From 2036, EU industries can buy carbon credits from outside the EU to balance their emissions.
- Buying carbon credits from outside means companies might pay less for the right to emit.
- This change could allow companies to pollute more if EU carbon allowances are used up.
- The plan aims to provide industries with more flexibility in managing emissions.
- Critics include European lawmakers and environmental groups worried about effectiveness.
- The goal of ETS is to reduce planet-warming greenhouse gases gradually over time.
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