Finance
World’s Biggest Carbon Market to Get Even Bigger in New EU Plan
- European Commission wants to expand Emissions Trading System
- EU executive to propose expanding 2030 carbon-cut goal to 55%
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The world’s largest carbon market is about to get even bigger and more ambitious in Europe’s latest plan to cut greenhouse gas emissions under its Green Deal.
The European Commission will consider expanding its Emissions Trading System in a bid to cut carbon emissions “at least 55%” from 1990 levels by 2030, according to a draft document seen by Bloomberg. The current target is a 40% cut.