Welcomed by the steel lobby and slammed by climate advocates, a package of EU carbon market reforms passed in the European Parliament on Wednesday.
The carbon price stayed still at €5 a tonne as lawmakers voted for a watered down version of proposals put forward by the parliamentary environment committee. […]
Green groups expressed fury at these compromises, describing them as a betrayal of the international climate deal adopted in Paris in 2015.
“It is shocking that the Parliament chose to bow to the interests of polluting industries instead of protecting citizens from a catastrophic climate breakdown,” said Wendel Trio, director of Climate Action Network Europe.
“The Parliament has completely failed the first test of its commitment to the Paris Agreement. The proposed reforms will keep the carbon market ineffective for a decade or more.”