Negotiations on EU carbon market stuck in quagmire

(EurActiv, 14 Nov 2022) Ongoing talks to reform the EU’s flagship climate policy tool, the emissions trading scheme (EU ETS), appear stuck as Parliament accuses EU member states of refusing to give ground.

The EU ETS, which caps the emissions of around 10,000 industrial sites and allows companies to trade surplus CO2 credits, is the EU’s flagship climate policy tool.

The scheme, which covers around 40% of the EU’s carbon emissions, is currently being tightened to align with the bloc’s target of reducing greenhouse gases by 55% before the end of the decade.

Following a reform proposal by the European Commission in July 2021, EU countries and Parliament are in the midst of three-way negotiations called trialogues.

But those talks are currently stuck.

“I don’t have many good news,” said Peter Liese, the chief Parliament negotiator.

“We had the third trialogue yesterday, and it was not really successful,” the German conservative lawmaker told journalists on Friday (11 November) after talks held the day before.

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EurActiv, 14 Nov 2022: Negotiations on EU carbon market stuck in quagmire