EU reaches landmark deal to bolster carbon market
19 Dec 2022
The European Union reached an agreement to strengthen and expand its flagship carbon market, endorsing the centrepiece of the European Green Deal strategy that aims to make the EU’s 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 steel makers, are obliged to reduce pollution.
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