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game tài xỉu đổi tiền:EU gets landmark deal to bolster carbon market in green push

game tài xỉu đổi tiền:EU gets landmark deal to bolster carbon market in green push

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Wider coverage: A woman rides a bicycle near the European Parliament in Brussels. Under a provisional deal announced by EU member states and the European Parliament, emissions trading will be extended to heating and road transport, and will also cover shipping. — AFP

FRANKFURT: The European Union (EU) has reached an agreement to strengthen and expand its flagship carbon market, endorsing the centrepiece of the Green Deal strategy that aims to make its economy climate-neutral by mid-century.

Under a provisional deal announced by representatives of EU member states and the European Parliament, emissions trading will be extended to heating and road transport, and will also cover shipping.

The 27-nation bloc will also accelerate the pace at which companies from power producers to steelmakers are obligated to reduce pollution.

The deep reforms are part of the region’s plan to cut emissions by at least 55% from 1990 levels by 2030, and reach net zero by 2050.

“It is the biggest climate law ever in Europe, and some say in the world,” said Peter Liese, lead negotiator for the European Parliament, told reporters at a briefing early Sunday after 29 hours of negotiations.

“We get a lot for climate, a big amount of CO2 saved, at the lowest possible price.”

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While some provisions of the overhaul were watered down compared with the original proposal as the EU grapples with an unprecedented energy crisis following Russia’s invasion of Ukraine, the bloc is determined to make the green overhaul the basis of its growth strategy, and set a precedent for other nations and regions in the fight against climate change.

“The deal is a success for the EU and will provide certainty to companies and investors even if some compromises had to be made as the economic environment is very challenging,” said Ingo Ramming, head of carbon markets for Banco Bilbao Vizcaya Argentaria SA in Madrid.

Expectations of stricter rules already helped send carbon prices to a record this year. Benchmark carbon futures traded in Amsterdam closed more than 10 times the levels seen five years ago.

The agreement still needs to be formally endorsed by member states and the parliament to be binding.

The deal also complements a landmark measure agreed earlier last week to slap a pollution price on imports of certain goods to Europe, and shield its own producers from cheaper competitors in countries with less strict environmental rules.

As part of the emissions market reform, policymakers set the rules for phasing in the Carbon Border Adjustment Mechanism (CBAM) from 2026 and phasing out by 2034 pollution allowances that sectors covered by the levy get for free.

“I see the CBAM as a major achievement,” Ramming said. “It could be a catalyst for global carbon pricing. For the implementation, diplomatic skills remain crucial.”

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