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EU Gets Landmark Deal to Bolster Carbon Market in Green Push

  • EU nations, parliament endorse extension of emissions trading
  • Industry will have to cut greenhouses gases faster this decade
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The European Union reached an agreement to strengthen and expand its flagship carbon market, endorsing the centerpiece of the Green Deal strategy that aims to make its economy climate-neutral by mid-century.

Under a provisional deal announced by representatives of EU member states and the European Parliament, emissions trading will be extended to heating and road transport, and will also cover shipping. The 27-nation bloc will also accelerate the pace at which companies from power producers to steelmakers are obligated to reduce pollution.