EU Plans ETS Overhaul to Ease Pressure on Industry

The European Commission is preparing changes to the EU Emissions Trading System (ETS) aimed at easing pressure on industry while encouraging investment in emissions reductions. According to a Commission official, Brussels wants to allow industrial companies to receive additional free emissions allowances in return for investing in the decarbonization of their operations.

The proposal is also expected to encourage member states to devote a larger share of revenue from emissions allowance auctions to supporting affected industries. The European Commission is due to present its proposed ETS overhaul on 17 July. The changes are intended to preserve the competitiveness of European industry while maintaining the EU's climate objectives.

(Reuters, mja)