EU lawmakers reach deals on emissions trading, carbon tax

Submitted by mike kraft on

EU lawmakers adopt deals on emissions trading, carbon tax European Union lawmakers have adopted on Tuesday key pieces of a package designed to achieve the EU’s climate goals of cutting emissions of the gases that cause global warming by 55% over this decade. European Parliament members approved deals to reform the 27-nation bloc’s emissions trading system and to create a new hardship fund for vulnerable households and small businesses affected by higher fuel costs arising from the new measures. The emissions trading system covers about 40% of the EU’s greenhouse gas emissions. The reform stipulates that European industries and energy companies should cut emissions by 62% by 2030 compared to 2005 levels, compared to a target of 43% under the previous rules. AP NEWS

 

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