Brussels has implemented a strict set of conditions for the much-anticipated relaxation, which could result in significant losses for companies due to "free money".
The European Commission proposes to reform the EU’s emissions trading system to support achieving the 2040 climate goals, as well as the competitiveness and energy independence of European industry. The proposed plans include a slower reduction target, linking free allowances to specific conditions, and the creation of a multi-billion euro investment fund. In addition, new regulations would be introduced in the areas of air transport, shipping, and waste incineration.
The European Commission plans to comprehensively reform the EU’s emissions trading system, so that ETS supports both the achievement of the EU’s climate goals by 2040 and the competitiveness of European industry and its energy independence. The proposal envisages a slower reduction in emissions, free quotas subject to conditions, and a multi-billion euro investment fund, while also rewriting rules for air transport, shipping, and waste incineration.
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Magyar Péter made an important announcement: there is no need for voluntary consumption reduction.
