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EU Lawmakers Clinch Deal on Carbon Market Reform Before Vote

  • Political groups in EU Parliament reach agreement on EU ETS
  • Compromise would accelerate phaseout of free carbon permits
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The three biggest political groups in the European Parliament reached an agreement on a sweeping reform of the European Union’s carbon market in a bid to resolve a spat that derailed the overhaul and threatened to delay talks on a broader climate package. 

Lawmakers representing Christian Democrats, Socialists and Liberals in the EU Parliament said on Wednesday that they endorsed a compromise that would accelerate the phaseout of free carbon permits and slightly speed up emissions cuts. Last week, those issues helped prompt the rejection of the measure in a plenary vote. The second ballot is due to be held at a session starting on June 22 in Brussels.