The world’s first “carbon credit” system just received approval from the European Union Parliament, marking the first step toward implementation. This innovative action has received a lot of praise; one Dutch website even called it a “tremendous milestone in our path to tackle climate change.”. “Everyone in Europe will have to pay for carbon emissions.”
“The measures are part of a package of climate laws,” Dutch news outlet NOS reported. “Before 2030, CO2 emissions must be reduced by 55 percent. European industry, which already partly has to do this, will have to deal with higher emission costs, and companies from outside Europe will pay for their emissions at the border. The money raised with this can be spent on climate plans.”
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“Citizens and companies will have to pay for the CO2 from the exhaust and the chimney,” added the report. “This goes through energy companies and pumping stations. They have to pay for emission allowances and then charge the costs to the customer who comes to fill up or turn on the gas heater.”
“I am pleased that a balanced agreement has been reached on the largest climate legislation package in the EU ever,” Esther de Lange (CDA) MEP, who also served as head negotiator on the Social Climate Fund, was instrumental in the effective coordination of Europe’s ambitious Green Deal. Her remarkable negotiating successes highlight her dedication to ensuring that the concerns of residents and environmental interests are resolved.
“With this deal we are drastically reducing emissions in Europe, but in a socially responsible way without harming European industry. The introduction of ETS for transport and buildings is necessary to achieve our climate goals,” Added she. “This can be done not without social measures to help people make this transition, as European businesses and households are already facing exceptionally high energy prices.”
More information regarding the European Parliament’s ambitious proposal to reduce carbon emissions using incentive-based credits was just made public.
“On Saturday night, MEPs and EU governments agreed to reform the Emissions Trading System to further reduce industrial emissions and invest more in climate friendly technologies,” the EP declared.
“Emissions in the ETS sectors must be cut by 62% by 2030, compared to 2005, which is one percentage point more than proposed by the Commission,” the EP included
“The ETS is part of the ‘Fit for 55 in 2030 package‘, which is the EU’s plan to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels in line with the European Climate Law,” As a result of agreements they have reached with EU governments on a number of issues, including effort sharing, carbon border adjustment mechanisms (CBAM), CO2 cars, land use/land-use change and forestry (LULUCF), and aviation emissions trading scheme, MEPs have made significant progress in their negotiations.
Carbon emissions will soon be a new burden for European people. The European Union has released a strategy aiming for an ambitious 55% drop in CO2 emission by 2030 – its lowest level ever since records started – in order to lower global temperatures and greenhouse gas concentrations.
