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EU Lawmakers May Back Key Elements of Carbon Market Overhaul

  • EU Parliament’s industry committee to vote on reform April 20
  • Europe is discussing plan to bolster emissions trading system

The European Parliament’s industry committee is likely to endorse the main elements of the European Union’s carbon market reform plan, backing the bloc’s green shift at a time of an unprecedented energy crisis. 

The committee will probably back a plan to accelerate pollution curbs by companies from utilities to steelmakers and cement producers, according to draft compromise amendments agreed among the biggest political groups before a vote on Wednesday. The European Commission, the bloc’s executive, proposed in July accelerating the rate at which the emissions cap shrinks each year to 4.2% from 2.2% now.