EU Environment Committee votes to revive ailing Emissions Trading System

From 2021, carbon credits in the EU will be reduced by 2.4 percent annually. Meanwhile, 24 percent of the excess quotas over the period 2019-22 will be taken out and placed in the Market Stability Reserve. These were the primary changes to the EU's ailing Emissions Trading System (ETS) ushered in by a majority of EU MEPs in the Environment Committee (ENVI).
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