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EU Parliament votes for more ambitious emissions trading

2022-06-22T14:12:11.347Z

The reform plans to expand CO₂ trading in the EU were initially rejected. Now the European Parliament has decided again - and agreed on a position on the proposals for climate protection.



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Lignite power plant in Pulheim: Citizens should be relieved by climate social funds

Photo: Federico Gambarini / dpa

Well then, after a long debate, the European Parliament has agreed on a compromise on emissions trading.

In the debate on emissions trading, the EU Parliament voted in favor of phasing out free CO2 certificates for industry by 2032.

This should reduce greenhouse gas emissions more quickly.

An initial vote on this failed at the beginning of the month, for example on the question of how long the transition phase should run.

However, the law is not yet complete.

Rather, the vote confirms Parliament's position for the forthcoming negotiations with EU countries on the final law.

The agreement was negotiated by Christian and Social Democrats and the Liberals in the European Parliament, but also supported by the Greens.

SPD MP Tiemo Wölken believes that the proposal, which failed in parliament two weeks ago, would have significantly watered down emissions trading.

CO2 tariffs should be due at the EU's external borders

The current agreement stipulates, among other things, that the free allocation of certificates for CO2 emissions should gradually be phased out from 2027 and completely eliminated from 2032.

Emissions trading is also to be extended to buildings and transport.

The EU states want to agree on a position next week before the two institutions start negotiations with each other.

Only when a compromise has been reached can the project come into force.

The proposals for climate protection had already been presented by the EU Commission last summer.

With emissions trading (ETS), certain industries have to pay for the emission of climate-damaging gases such as CO2.

It is a particularly important part of European climate policy and makes environmental pollution more and more expensive over time, creating an incentive to produce in a more climate-friendly manner.

Taken together, the EU is the third largest CO2 emitter in the world.

Parliament also spoke out in favor of setting up a climate social fund and a kind of CO2 tariff at the EU's external borders.

The climate social fund is intended to relieve the burden on citizens, since more climate protection is also expected to result in higher costs for consumers.

The aim of the CO2 tariff is to prevent cheaper products that are manufactured abroad, which are more harmful to the climate, from becoming a problem for EU companies.

Apr/dpa/Reuters

Source: spiegel

All business articles on 2022-06-22

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