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EU Lawmaker Fight Derails Bloc’s Carbon Market Overhaul

  • Emissions market reform referred for further negotiations
  • Parliament delays votes on carbon border levy, climate fund
Coal inside a storage dome in Civitavecchia, Italy.

Coal inside a storage dome in Civitavecchia, Italy.

Photographer: Alessia Pierdomenico/Bloomberg
Updated on

The European Parliament failed to clinch a deal on the biggest overhaul of the bloc’s carbon market after lawmakers from three political groups unexpectedly refused to back the amended reform. 

The report on the emissions market -- meant to set out parliament’s position for talks with member states on its final legislation -- will now be sent back to the environment committee for further debate. That risks delays in the broader process to approve the European Union’s Fit for 55 package that would implement stricter climate goals for this decade.