News Snapshot:
European Union lawmakers agreed on Dec. 18 to reform the bloc’s carbon market, expanding it to cover new sectors of the economy and increasing the pace at which it aims to drive down greenhouse gas emissions. The EU’s “emissions trading scheme” (ETS) is the bloc’s most important climate policy. It currently covers emissions from about 10,000 power plants and industrial facilities across its 27 member states , making it the world’s biggest in terms of covered facilities—China, which has the biggest carbon market in terms of CO2 emissions, only about 2,000 power plants. How the European Union’s ETS works Under...
