The EU proposes a weakening of the ETS that would add 2,000 million tonnes of_CO2

The European Commission proposes to reduce the rate of emissions cuts from 4.4% to 3.7% per year and to extend free allocations to the most polluting sectors. The measure, subject to negotiation with the Council and Parliament, would add 2,000 million tonnes of CO₂.

The reform of the ETS proposed by Brussels would add 2,000 million tonnes of CO₂ until 2040 by slowing down the rate of emission reductions, a proposal that environmental organisations describe as climate ‘Black Friday’.

The rate of decline in emissions slows down
The Emissions Trading System (ETS) is the great climate jewel of the European Union. Since 2005, it has helped reduce the bloc’s industrial emissions by around 50% and is considered the most influential carbon market policy in the world. The current roadmap requires the 10,000 facilities covered – refineries, power plants and other large sources – to cut their emissions by 4.4% per year, with the aim of reaching net zero emissions by 2039. The European Commission proposed earlier this month to change that path. The new plan reduces the rate of decline to 3.7% per year between 2031 and 2035, and to only 1.7% thereafter. The difference is huge in terms of carbon accumulation.

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