The agreement still needs to be officially approved by the EU Parliament and the European Council.
in Maiju Ylipie,
Anna Näveri
EU negotiators reached an agreement on the reform of the emissions trading system the night before Sunday. The Czech Presidency of the EU and the European Council informed about the matter.
– The agreement (…) gives us the opportunity to achieve climate goals in the most important sectors of the economy, while ensuring that the most vulnerable citizens and micro-enterprises receive real support in the climate transition, said the Czech Minister of the Environment Marian Jurečka in his statement.
The negotiations that started on Friday lasted more than 30 hours.
The negotiators decided to raise the emissions reduction target for sectors covered by the emissions trading system to 62 percent by 2030.
An agreement was also found on the schedule according to which the free emission rights of industry are to be gradually waived.
The agreement also set a target for reducing fuel emissions in the construction and road transport sectors
The purpose is also to establish a social climate fund, which will help households and small businesses in a weak financial position to cope with the price effects that arise from the emissions trading system.
The emissions trading system plays a big role in the EU’s plans against climate change.
The agreement still needs to be officially approved by the EU Parliament and the European Council.
Sources: Reuters, AFP