The European Parliament will vote to increase the price of CO2 emissions

At the plenary meeting of the European Parliament in Strasbourg on Tuesday 6 February, MPs will vote, in particular on the reform of the CO2 emissions trading system (EU ETS). The changes should lead, in particular, to an increase in the price of CO2 emissions.

Supporters of CO2 trading reform note that emissions have declined in recent years as a result of the economic crisis. Currently, the cost of emission permits is relatively low. Low prices and excessive markups give companies little incentive to switch to cleaner production technologies, which makes ETS less effective as a tool to combat climate change.

The goal of the reform is to regulate the post-2020 emissions trading market and stimulate CO2 emissions reductions. The current ETS directive will apply until 2020. The reform aims to regulate the post-2020 emissions trading market and stimulate CO2 emissions reductions to meet the EU's commitments under the Paris Climate Agreement.