EU lawmakers adopt vast carbon market reform

19 Apr, 2023

STRASBOURG, (France): The European Parliament adopted sweeping climate measures on Tuesday aimed at massively cutting EU greenhouse emissions, and including the introduction of a carbon border tax on imports.

The legislative step crystallises an ambitious EU plan to reform Europe’s carbon market by broadening an emissions trading scheme to more industries and lowering quotas of allowable polluting gases.

“With today’s votes, we reach another milestone,” European Commission chief Ursula von der Leyen tweeted.

She urged EU member states to give final approval to the laws so they can come into effect.

Under the incoming legislation, European Union carbon emissions would be reduced by 62 percent by 2030, compared to levels in 2005 — a big step up from a previous target of a 43 percent cut.

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