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World’s Biggest Carbon Market to Get Stronger in EU Green Shift

  • EU plans to speed up emissions cuts, retain supply controls
  • Carbon border levy to replace free permits for steel, cement
RWE AG Open Cast Lignite Mining as Germany Heads For Coal Exit
Photographer: Alex Kraus/Bloomberg

The European Union’s carbon market, the world’s biggest, is set to expand and impose tougher limits on emitters as the region aligns its entire economy with a stricter climate target for the next decade.

The European Commission plans to phase maritime transport into the EU Emissions Trading System from 2023 and improve a mechanism to control the supply of carbon permits as part of the biggest overhaul of the market to date, according to a draft law seen by Bloomberg News.