EU gives green light to revamp of Europe’s main climate policy

EU countries on Tuesday
gave the final approval to the biggest revamp to date of
Europe’s carbon market, which is set to make it more costly to
pollute and sharpen the 27-member bloc’s main tool for cutting
carbon dioxide emissions.
The world’s first major carbon trading system has since 2005
forced power plants and factories to buy permits when they emit
CO2, and has cut emissions from those sectors by 43%.
European Union members approved a deal agreed last year by
negotiators from EU countries and Parliament, to reform the
carbon market to cut emissions by 62% from 2005 levels by 2030,
which is designed to deliver the EU’s emissions-cutting targets.