Europe's recent push to reduce its greenhouse gas emissions is desperately needed, but it is happening too slowly, with many key measures laid out in the Fit for 55 climate package not coming into force until the 2030s, writes Michael Bloss.
A draft of the EU’s revised Emissions Trading Scheme confirms the European Commission’s intention to tighten the cap placed on CO2 emissions from industry and extend carbon trading to cover shipping emissions as well as road transport and heating fuels.
An EU-wide emissions trading system for the transport and building sectors would secure the financing of low carbon solutions and support lower-income households and member states through the redistribution of carbon pricing revenues, argue Matthias Buck and Andreas Graf.
A senior EU official on Tuesday (11 May) defended European Commission plans to extend the bloc's carbon market to road transport, arguing that revenues generated could be used to offset the effects of higher fuel prices on the poorest in society.
Europe will apply its emissions trading scheme to buildings and transport, European Commission President Ursula von der Leyen told a summit of world leaders on Thursday (22 April), setting the stage for the EU’s planned overhaul of its carbon market.
Rapid emission cuts need one carbon price for all sectors, including transport and buildings. But to move quickly enough, we should allow some differentiation for a limited time, writes Georg Zachmann.
The European Commission's upcoming June package of energy and climate laws will “propose the extension of the emission trading scheme to sectors such as building and road transport,” the EU's energy commissioner Kadri Simson said on Thursday (25 March).