The EU Council passed a law to reduce sales of carbon dioxide certificates

Council of the European Union adopted several laws as part of the climate program “Fit for 55 in 2030”that provide for significant reductions in greenhouse gas emissions by 2030. In particular, the EU has adopted a law to reduce sales of CO2 emission certificates for products imported into the EU.

According to the reforms approved by the EU Council, by 2030 emissions should be reduced by 62% compared to 2005. The reforms also provide for a phased (for 2026-2034) abolition of free emission quotas for local companies: by 2026 their number should be reduced by 2.5%, and by 2034 they are planned to be completely abandoned.

To achieve this goal, the EU countries will simultaneously reduce emission quotas: by 90 million tons of CO2 equivalent by 2024 and by another 27 million tons by 2026. It is assumed that the annual reduction in quotas in 2024-2027 should be 4.3%, in 2028-2030 – 4.4% (in the rules applied so far, the goal was more modest – a reduction in quotas by 2.2% per year) .

More details – in the material “Green Europlan”.

Erdni Kagaltynov