EU Bets on Cap and Trade in Plan for Deeper Emission Cuts – Bloomberg Business

They should have done so last year.

The European Union sought to boost prices in the world’s biggest greenhouse-gas market with draft legislation to underpin the bloc’s 2030 emissions-reduction goal.The measures would accelerate cuts in carbon dioxide from electricity, steel, paper and other industries in the EU emissions-trading system. Their supply of CO2 allowances would shrink by 2.2 percent a year between 2021 and 2030 compared with a 1.74 percent annual decline in the 2013-2020 period.

Source: EU Bets on Cap and Trade in Plan for Deeper Emission Cuts – Bloomberg Business

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