EU to Allow Industry to Pollute Until 2040s and Introduce External Carbon Credits
The European Commission has approved an overhaul of the Emissions Trading System, allowing industry to continue fossil fuel use longer and, from 2036, to buy carbon credits from outside the EU.
The European Commission has announced significant changes to the EU Emissions Trading System (ETS), allowing industrial companies to continue emitting greenhouse gases well into the 2040s. This decision is part of a system revision and means that carbon dioxide emission limits will be postponed for a longer period.
Under the new rules, starting in 2036, companies will be able to purchase carbon credits from projects outside the EU to offset their emissions. This could lower the internal carbon price and give industry more freedom to pollute if EU quotas run out. Critics worry that this approach weakens climate goals.
Michael Bloss, a Member of the European Parliament from the Greens/European Free Alliance, and Wijnand Stoefs from the non-profit research organization Carbon Market Watch have commented on the changes. Bloss indicated that this is a step backward in the fight against climate change, while Stoefs emphasized the risk that external credits may be less reliable.
