STORY
The European Commission has proposed significant changes to the European Union’s emissions trading system, the bloc’s central carbon market. The proposals are intended to balance climate targets with concerns from industry about costs and global competitiveness.
The plan would allow some industries more time to reduce emissions while offering additional support for investment in cleaner technologies. Commission officials argue that the changes are needed to keep the transition politically and economically sustainable.
Environmental groups are likely to scrutinise whether the changes weaken the pace of emissions reductions. Industry bodies have argued that the EU needs to prevent carbon-intensive production from moving overseas while maintaining pressure to modernise.