What's at Stake for the EU's Carbon Market Blueprint The European Commission's decision to allow EU industries to continue emitting COâ‚‚ gases well into the 2040s has sparked outrage among environmentalists and renewed concerns about the bloc's commitment to climate action.
The overhaul of the Emissions Trading System (ETS) was meant to be a cornerstone of Europe's efforts to reduce greenhouse gas emissions, but it now appears that industry interests have taken precedence.
The Commission's decision to give industries the option of buying carbon credits from outside the EU starting in 2036 is a subtle yet significant shift in policy.