EU ETS revisions close to becoming law
Final shape of the law endorsed by European Parliament with only EU Council endorsement remaining
This week the latest reforms of the EU Emissions Trading Scheme (ETS) moved a step closer after the European Parliament's Committee on the Environment, Public Health and Food Safety (ENVI) endorsed key parts of the deal. The endorsed deal will see a 62pc cut in ETS sector emissions by 2030 compared to 2005 levels. In order to achieve this there will be a one-off reduction to the EU-wide quantity of allowances of 90mn in 2024 and 27mn in 2026, in combination with an annual reduction of allowances by 4.3pc from 2024–27 and 4.4pc from 2028–30. The endorsed deal also sees a phased introduction of a Carbon Border Adjustment Mechanism (CBAM) to replace the incumbent free allowances system. The CBA
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence