The European Commission (EC) has proposed a revision of the EU Emissions Trading System (ETS) that would substantially reduce the overall cap on carbon dioxide emissions and increase the annual rate of reduction as part of the EU Green Deal, it said on Wednesday July 14.
The EC has an ambitious target to achieve net reductions in emissions of at least 55% by 2030, compared with 1990 levels. The previous target was 40%. It also plans to become carbon-neutral by 2050.The new proposed target is that emissions from sectors currently participating in the ETS will be reduced by 61% by...