EU negotiators have made progress towards reforming the EU’s Emissions Trading System (ETS), but a proposal to nullify UK allowances under a ‘hard Brexit’ scenario has prompted criticism.
Three-way negotiations in Strasbourg between the EU Parliament, the Council of the EU and the European Commission this week showed progress towards a final agreement on withdrawing surplus allowances from the carbon market, which are estimated to number around 1.7 billion.
Negotiators now seem closer to a deal to double the intake rate of surplus allowances into the...
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