The Commission Is Expected to Give Industry More Time to Cut Emissions

As the European Commission prepares to unveil, on Friday, July 17, the changes it plans to make to the EU carbon market, it now looks all but certain that European industry will be given more time to cut emissions. Under current rules, the number of allowances released onto the market shrinks by 4.4% every year. That reduction rate would be lowered to between 3.5% and 3.9% through 2036, before rising again to 2.2%. The exact rates remain under discussion, with Northern European countries reportedly opposed to easing the pace of cuts.