Thursday, 26 January 2023
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EU lawmakers agreed on an overhaul of the EU ETS rules as negotiators reached a deal on 18 December 2022. A full text circulated on 24 January confirms the key elements that were communicated a month ago. The document will now be presented to the European Parliament and to the member states in the Council for final approval. Assuming no delays, it could enter into force in May 2023.
The EU has set itself an objective to reduce overall emissions by at least 55 percent by 2030. To achieve that target will require a huge abatement effort in all sectors, not least the ones that are covered by the EU ETS. In July 2021, the European Commission proposed a comprehensive rehaul of the EU ETS Directive. Partly this is about tightening the cap for the emitters already covered by the EU ETS, partly it is about extending the system t...